House Ways and Means Committee Chairman Kevin Brady (R-TX) has released a Listening Session Framework for what is being referred to as “Tax Reform 2.0”. The outline includes making permanent the individual and small business tax cuts in the Tax Cuts and Jobs Act of 2017. Permanent extension of the individual and small business tax cuts, that are presently set to expire in 2025, would reduce revenues by $1 trillion over ten years – increasing pressure to cut vital federal programs for people with disabilities. Chairman Brady has stated that he intends to bring a legislative package to the floor in September. If both chambers pass a concurrent budget resolution for fiscal year 2019, it would be possible for the Senate to approve additional tax cut legislation by a simple majority.
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