In Tax Cuts 2.0, Retirement Changes Seen as Most Likely to Pass

Republicans are promising a comprehensive second round of tax cuts—but tax changes affecting retirement savings may be the only measures with enough political support to make it through Congress this year.

House Ways and Means Chairman Kevin Brady said July 18 that he plans on releasing an outline of “Tax Reform 2.0” legislation next week to his committee members, which would include making the rate cuts for individuals permanent. Extending those cuts faces slim chances in the Senate, where it would need the support of at least nine Democrats to pass. The 2017 tax law passed without any Democratic votes. ...