ABC New Hampshire & Vermont News

Tax Cuts & Jobs Act of 2017 Overview

´╗┐Not since the Reagan administration has there been a tax overhaul of this proportion. The goal is to cut taxes for both individuals as well as businesses to create jobs and boost the economy. President Donald Trump signed Congress’s new tax plan on December 22nd, the bill is formerly known as the Tax Cuts and Jobs Act.

Here are some key changes brought on by the bill:

With respect to individuals, the bill:  For businesses, the bill:  So far the tax plan overall has been received favorably by the business community; time will tell what the full impact of this law will be. Be sure to read future snapshots to stay updated.

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