The legislation cuts taxes on Americans of all income levels and will grow the economy, leading to new and better jobs and more take-home pay. ATR Urges a YES vote on final passage of the Tax Cuts and Jobs Act.
This amendment (1605, 1606) increases taxes on businesses to finance spending through the tax code. These policy changes would come at the cost of lower economic growth, fewer new jobs, and decreased wages. ATR urges a NO vote on this amendment.
These amendments (1611, 1614) increase taxes on carried interest capital gain. Increasing taxes on carried interest capital gains would impact pension funds, charities and colleges that depend on investment partnership structures in order to meet savings goals. ATR urges a NO vote on both Amendments.
This amendment (1674) repeals the Foreign Account Tax Compliance Act. FATCA was designed as a blunt instrument that targets any American with a bank account overseas. Most who are forced to comply are expatriate Americans who have, little if any U.S. presence. ATR urges a YES vote on this amendment.
This amendment (1609) reforms Section 280E of the tax code so that it does not impose the equivalent of a gross receipts tax on legal cannabis businesses. ATR urges a YES vote on this amendment.
This amendment (1716) reasonably grandfathers in the deductibility interest expenses for globally operating companies. It is crucial that pro-growth tax reform includes reasonable transition rules for businesses to minimize the effect of any base broadeners. This amendment helps achieve this goal. ATR urges a YES vote.
This amendment (1619) expands 529 tax preferred saving accounts to be used for K-12 education. ATR urges a Yes vote on this amendment.
This amendment (1607, 1608) expands 529 tax-preferred savings accounts to apprenticeship programs. ATR urges a Yes vote on this amendment.
This amendment sends the pro-growth, pro-family Tax Cuts and Jobs Act back to the Senate Finance Committee until the bill contains a tax increase on carried interest capital gains. ATR urges a NO vote on this amendment.
Senator Tim Scott (R-S.C.) has introduced an amendment (1808) that would clarify the treatment of advanced payments for accounting purposes to provide needed flexibility for businesses. ATR urges a YES vote on this amendment.