Senate Republicans Create Working Groups Ahead of 2025 Tax Cliff

Senate Finance Committee Republicans have launched working groups as part of their preparation for the 2025 tax cliff, when a swath of provisions from the 2017 tax law expires.

The panel’s top Republican, Sen. Mike Crapo of Idaho, told Bloomberg Tax Thursday the groups will cover every aspect of the expiring tax breaks to prepare for next year’s negotiations. The senators will work on understanding the issues, the options available, and how to approach the expiration, Crapo said.

Most of the individual tax cuts in the 2017 law expire at the end of next year and even elements not expiring—for ...