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The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, [2] Pub. L. 115–97 (text), is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), [3] [4] that amended the Internal Revenue Code of 1986.
Reconciliation is an optional part of the annual congressional budgetary process. [6] Typically, the reconciliation process begins when the president submits a budget to Congress early in the calendar year.
Omnibus Budget Reconciliation Act; Long title: An Act to provide for reconciliation pursuant to section 7 of the concurrent resolution on the budget for fiscal year 1994. Acronyms (colloquial) OBRA-93: Nicknames: Deficit Reduction Act of 1993, Revenue Reconciliation Act of 1993: Enacted by: the 103rd United States Congress: Effective: August 10 ...
Republicans are getting ready to fast-track the extension of the Trump tax cuts through the reconciliation process if they win big in November. Nearly seven years after the GOP used budget ...
Republicans on the House Budget Committee are considering more than 200 potential budget cuts, tax breaks, tariffs and changes to programs like Medicare and Social Security in preparation for ...
In accounting, reconciliation is the process of ensuring that two sets of records (usually the balances of two accounts) are in agreement.It is a general practice for businesses to create their balance sheet at the end of the financial year as it denotes the state of finances for that period.
The Economic Growth and Tax Relief Reconciliation Act of 2001 was a major piece of tax legislation passed by the 107th United States Congress and signed by President George W. Bush. It is also known by its abbreviation EGTRRA (often pronounced "egg-tra" or "egg-terra"), and is often referred to as one of the two "Bush tax cuts".
Also atop the agenda for the new Republican power brokers (and perhaps entwined with the debt ceiling) is the coming reconciliation process and how tax cuts fit in there.
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