House Passes Tax Reform Bill; Senate Committee Action Continues

The House of Representatives this afternoon passed its tax reform legislation, the Tax Cuts and Jobs Act, H.R. 1, which eliminates the tax exemption for private activity bonds, including Housing Bonds. The final vote was 227 to 205, with two Democrats absent. Thirteen Republicans voted against the bill along with all of the Democrats casting a vote.

The 13 Republican no votes were Representatives Dan Donovan (R-NY), John Faso (R-NY), Rodney Frelinghuysen (R-NJ), Darrell Issa (R-CA), Walter Jones (R-NC), Peter King (R-NY), Leonard Lance (R-NJ), Frank LoBiondo (R-NJ), Tom McClintock (R-CA), Dana Rohrabacher (R-CA), Christopher Smith (R-NJ), Elise Stefanik (R-NY), and Lee Zeldin (R-NY).

The Senate Finance Committee mark-up of its version of tax reform legislation continues at this hour. The Committee has yet to consider any of the amendments members filed that pertain to affordable housing.