HR 1 Comprehensive Tax Reform (Roll Call 692)
This bill substantially reduces taxes on corporations and small business, reduces individual income tax rates from top to bottom, increases the standard deduction for individuals and the exemption for the Death Tax and repeals Obamacare’s individual mandate beginning in 2019. Although the bill does not include provisions advocated by ACU, including simplifying the tax code, abolishing the Death Tax and abolishing the Alternative Minimum Tax, ACU supported the bill as a good first step in passing more comprehensive tax reform. The House passed the bill on December 19, 2017 by a vote of 227-203. This vote was double-weighted due to its impact in expanding the overall American economy.