Summary of Amendments Submitted to the Rules Committee for H.R. 6760 - Protecting Family and Small Business Tax Cuts Act of 2018

Summaries Derived from Information Provided by Sponsors

Listed in Alphabetical Order

September 26, 2018 1:45 PM

Click on sponsor for amendment text

Brady, Kevin (TX)

#6

Excludes the budgetary effects of the bill from being entered onto the Statutory Pay-As-You-Go Scorecard.

King, Steve (IA)

#3

Ensures that wages paid to illegal aliens are not tax deductible.

King, Steve (IA)

#4

Makes e-verify mandatory and ensure that wages paid to illegal aliens are not tax deductible.

Lance (NJ), Smith, Christopher (NJ), Zeldin (NY), LoBiondo (NJ), Donovan (NY), Stefanik (NY), Faso (NY)

#2

Restores full deductibility of state and local taxes (SALT).

Pascrell (NJ)

#5

Repeals the $10,000 limit on the State and Local Tax Deduction.

Polis (CO), Schweikert (AZ)

#8

Creates a structure for taxing purchases made with cryptocurrency, and allows small purchases to be made with cryptocurrency without extensive reporting requirements.

Polis (CO)

#9

Exempts Cannabis businesses from 280e of the federal tax code.

Polis (CO)

#10

Eliminates federal alcohol taxes on kombucha and update regulations for kombucha manufacturers.

Rokita (IN)

#7

Makes bonuses received in 2018 tax-free.

Russell (OK)

#1

Prohibits the use of tax-exempt bonds to finance the construction of professional sports stadiums and requires that bonds issued to finance sports stadiums meet the private security and payment test. Applies only to bonds issued after the bill’s enactment; existing bonds would not be affected.