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CNBC, September 27, 2018:
A three-bill legislative package known as Tax Reform 2.0 cleared the GOP-dominated House during votes on Thursday and Friday.
While the legislation is expected to be dead on arrival in the Senate, some proposed changes to retirement savings could remain in play.
Among other changes, the bills would make recently enacted tax cuts for individuals permanent, expand retirement and education accounts and create tax-advantaged Universal Savings Accounts.
While supporters say a second round of tax cuts would lead to continued economic growth, critics point to its $627 billion price tag over the next 10 years, based on an analysis by the Joint Committee on Taxation. That’s on top of the $1.5 trillion the already-passed cuts are projected to cost during the same period.