On December 19, the U.S. House of Representatives passed a comprehensive tax reform package, H.R. 1/S. 1, by a vote of 227-203. The bill was a compromise struck between the House and Senate's previous tax bills. The Senate passed the compromise bill the next day, December 20. H.R. 1 the "Tax Cuts and Jobs Act," is a sweeping tax rewrite that will have ripple effects for decades throughout our economy.
For more information on both the House and Senate bills and their effect on commercial real estate, visit BOMA's tax reform page.