House and Senate tax bills compare

Posted on November 10, 2017 by Timeless Investor

Great comparison of House and Senate tax bills  from CNBC.  The mortgage interest deduction is a key factor for housing market. We will see where it will go and whether Washington is really hostile to homeowners or not. Very big deal!

Here’s how the House and Senate tax bills compare

  • The Senate tax plan broadly overlaps with a House bill but contains some key differences, according to a source briefed on it.
  • Among the differences, it does not repeal the estate or “death” tax or change the mortgage interest deduction.
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House Way and Means Chairman Kevin Brady (L) (R-TX) and Speaker of the House Paul Ryan (R) (R-WI), joined by members of the House Republican leadership, introduce tax reform legislation November 2, 2017 in Washington, DC.

House and Senate on a path to make housing unaffordable: Sen. Cantwell  

Senate Republicans unveiled a tax plan Thursday which chops taxes on businesses and makes major tweaks to the individual tax system.

It broadly follows the outlines of a similar bill making its way through the House. However, it contains some key differences from the House proposal, according to a source briefed on it.

Among those, it does not repeal the estate, or “death,” tax, and it leaves the mortgage interest deduction unchanged.

The chart below compares and contrasts some of the key provisions of the House and Senate plans.

— CNBC’s Ylan Mui contributed to this report.

About Timeless Investor

My name is Samual Lau. I am a long-term value investor and a zealous disciple of Ben Graham. And I am a MBA graduated in May 2010 from Carnegie Mellon University. My concentrations are Finance, Strategy and Marketing.
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