How the Senate Finance Committee revisions shape what’s next for the reconciliation bill

Insights from the EY Center for Tax Policy

The Senate Finance Committee’s revisions to the tax title of the House-passed reconciliation bill include significant changes that could impact businesses and individuals. These include making the Tax Cuts and Jobs Act “pre-cliff” business provisions permanent, holding the state and local tax deduction cap at $10,000 (subject to further negotiations), changing several international tax provisions and modifying some Inflation Reduction Act credit restrictions.

As the legislation moves back to the House, it will be crucial for businesses to stay informed and consider the potential implications of these changes. This panel discussion will provide insights into what’s in the legislation, what we can expect to happen next, and what actions businesses should consider.

Panelists

• Ray Beeman, Principal and Leader, Washington Council Ernst & Young, Ernst & Young LLP
• Ryan Abraham, Principal, Washington Council Ernst & Young, Ernst & Young LLP
• Jason Yen, Principal, International Tax and Transaction Services, National Tax Department, Ernst & Young LLP
• Timothy Powell, Partner, Business Tax Services, National Tax Department, Ernst & Young LLP
• Christa Bierma, Principal, Business Tax Services, National Tax Department, Ernst & Young LLP
• Anthony Nitti, Partner, Business Tax Services, National Tax Department, Ernst & Young LLP

Moderator

• Colleen O’Neill, EY US National Tax Department Leader

EY webcast managed and produced by Ernst & Young LLP’s Tax Technical Knowledge Services Group, Washington, DC: Lynn Fairfax