Over just seven weeks during the last two months of 2017 the Republicans in Congress moved with remarkable speed to rewrite the US tax code. At the end of October they had not yet even made public the text of a tax bill. But by 22 December President Trump had signed the final bill called the Tax Cuts and Jobs Act (‘the Act’) into law. The Act which represents the most significant change to the US tax code since 1986 is the amalgamation of two bills both of which sailed through the House of Representatives and the Senate along party lines during a two-week period in November and which were then melded together by a House-Senate Conference Committee during the first two weeks in December. The resulting combined bill was then passed by the Senate by a 51 to 48 vote on...
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