2017 Tax Reform Comparision Chart

Tax Cuts & Jobs Act Individual & Small Business Side by Side Comparison

Provisions: This is a synopsis of some of the provisions included in the House bill (HR 1) that was passed by a vote of 227 to 205 on November 16, 2017, and the Senate’s version of the bill as passed on December 2, by a vote of 51 to 49 – both along party lines. This synopsis does not include any conference amendments made after the December 2nd Senate version.

There are significant differences between the two bills, and both the House and Senate must pass the same legislation before it can be sent to the president for a signature. This involves a reconciliation process between the two houses of Congress. Most sources expect that most of the provisions of the Senate version will prevail during the reconciliation process in an effort to get the legislation pushed through before Christmas.

  • Both bills cut both individual and corporate tax rates 
  • Both bills largely repeal the state and local tax deduction 
  • Both plans increase the standard deduction 
  • Only the Senate bill repeals the Affordable Care Act requirement that individuals buy health insurance 
  • The conference committee will reconcile the two bills for a final vote and signature from the President
(Click the image to increase size)

Share this article...

Want our best tax and accounting tips and insights delivered to your inbox?

Sign up for our newsletter.

I confirm this is a service inquiry and not an advertising message or solicitation. By clicking “Submit”, I acknowledge and agree to the creation of an account and to the and .
I consent to receive SMS messages
Let us take your tax and accounting needs off your hands today.

Contact Us

700 Milam St Ste 1300
Houston, Texas 77002

Our Other Locations

Our expertise is widespread and we have multiple office locations to make it convenient for you to get help. You can find us at:

Dallas

222 W Las Colinas Blvd, #1650E
Irving, TX 75039

San Antonio

700 N St Mary's St #1400
San Antonio, TX 78205

Seabrook

2511B Nasa Pkwy Ste A 203
Seabrook, TX 77586

Pearland

11200 Broadway St Ste 2743
Pearland, TX 77584

Galveston

6302 Seawall Blvd
Galveston, TX 77551