Federal Tax Alert - June 2015

July 2015

Trade Package Includes Individual and Business Tax Provisions

Just before recessing for the Independence Day holiday, Congress passed two trade bills with important tax changes affecting individuals and businesses. The Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (HR 2146) and the Trade Preferences Extension Act of 2015 (HR 1295) are expected to be signed into law by President Obama as soon as they reach the White House. A third trade bill, the Trade Facilitation and Enforcement Act of 2015 (HR 644) is going to a House-Senate conference to iron-out differences.