To reform the Internal Revenue Code of 1986. 2017-11-14 Introduced in House This bill amends the Internal Revenue Code to reduce tax rates and modify policies for individuals and businesses.

The bill includes provisions to:

  • reduce the tax rates for individuals;
  • reduce the tax rates for corporations and on other business income;
  • allow increased expensing of the costs of certain business property;
  • repeal the estate tax;
  • modify the taxation of foreign income;
  • specify that a change in the organizational structure of a corporation is not a taxable event if there is no change among the owners, their ownership interests, or the assets of the organization; and
  • repeal the tax on net investment income.
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