Tue November 14, 2017

The House Committee on Ways and Means reported out the amended tax reform bill, the Tax Cuts and Jobs Act (H.R. 1) on November 9. It was advanced along party lines and the full House is expected to debate and vote on the bill Thursday, November 16.

Meanwhile the Senate Republican leadership also introduced the Senate’s version of tax reform on November 9. The Senate Committee on Finance began work on its version of the bill on Monday, November 13.  

Both the Senate and House will be in recess during the week of Thanksgiving, and there is no timetable for Senate floor debate or for a final vote. Once the Senate version passes its bill, a conference committee of members from both the Senate and House will be appointed to hammer out the differences between the bills, into a final package that might be acceptable to both chambers.

President Trump and the Republican leadership from both the House and the Senate want to have tax reform enacted and signed into law by the end of the year. PLASTICS has weighed in on both proposals; while there are encouraging provisions in both tax packages, we’ll continue working with lawmakers in both chambers and with the Administration to build a final reform bill that delivers the greatest possible benefit to plastics companies and the industry’s nearly one million workers.