So, what does the Senate version of this bill (HR-1) do? By and large, the Senate bill matches HR-1. But, there are some significant differences. It’s not clear which house will prevail in their interpretation of the various changes (or that the Senate version passes at all). But, again, tax planning is critical- we need to know what may happen. We need to discern what changes this Senate version- if it passes- will have in conference, when the House and Senate work out the differences in their versions.
You’ve all heard folks ask this- Are you still happy with the folks for whom you voted? This year, it’s been terribly poignant, since so many folks fell for the bait and switch politicians. The ones who promised to do A and then promptly did B- or nothing at all.