On Sep. 27 and 28, 2018, the House of Representatives passed three bills (H.R. 6756, H.R. 6757 and H.R. 6760) collectively known as "Tax Reform 2.0."

If enacted, the bills would make the temporary individual side tax cuts included in the Tax Cuts and Jobs Act permanent, including:

• doubling of the standard deduction,
• $10,000 cap on the State and Local Tax (SALT) Deduction,
• doubling of the estate tax exemption,
• increasing the adjusted gross income limitation for charitable gifts of cash from 50 percent to 60 percent for cash gifts, and 
• eliminating of the Pease limitation.

While Tax Reform 2.0 passed the House, the Senate is not expected to consider nor vote on the package of bills. Without congressional action, these provisions will expire on Dec. 31, 2025.

Depending on the outcome of the Nov. 6, 2018, midterm elections, Republicans could seek to tackle expiring tax provisions and technical corrections to the Tax Cuts and Jobs Act later this year. It is unlikely the Universal Charitable Giving Act, the Don't Tax Higher Education Act and other CASE legislative priorities will be included in such legislation.

This article is from the October 2018 BriefCASE issue.