The House of Representatives and the Senate voted to pass the Tax Cuts and Jobs Act.
The House passed the bill by a vote of 224-201, with 12 Republican representatives voting against the bill. The Senate passed the bill by a vote of 51-48 along party lines.
The bill heads to the President's desk for signature. President Trump called the legislation "historic."
Cadwalader attorneys authored a memorandum summarizing fifteen key provisions of the final bill, highlighting several of the most significant changes that will impact taxpayers. The memorandum was authored by Jean Bertrand, Mark Howe, Jason Schwartz, Gary Silverstein, Linda Swartz, David Teigman and Edward Wei.
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