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ABA: The American Bankers Association
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Tax Reform

The latest on the tax reform debate in the 119th Congress

ABA Position

Barring congressional action, a number of major tax provisions will expire after Dec. 31, 2025. ABA is working to pursue pro-growth tax policies that encourage investment and expand opportunity for all Americans by ensuring a competitive corporate tax rate, including fighting against any proposal to limit any deduction on state and local taxes (CSALT), and continuing the Section 199A pass-through deduction—a provision that enables many community banks to play a vital role in local economic development.

ABA is also engaging on numerous other priorities relating to tax reform. These include fighting against any proposed tax on bank assets, ensuring minimum tax rules are cohesive and workable, ensuring credit union tax treatment aligns with their activities, and working to enact the Access to Credit for our Rural Economy Act (ACRE). For more information on ACRE, see ABA's ACRE Toolkit.

 

While major decisions on timing, scope, and process could change, a lack of action would result in across-the-board tax increases on virtually every individual taxpayer (and automatic increases in many areas of business taxation). ABA is actively engaged on Capitol Hill to ensure that banks and bank customers are well-represented in any discussions concerning tax reform.

Looking for more on the current tax reform debate? See below for ABA policy documents, news items, press releases, as well as members-only background documents, webinars and more. We will continue to update these valuable resources as the tax debate continues to unfold this year.
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ABA Resources

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Related Training & Events

  • Tax Reform in 2025? What You Need to Know

    Recorded Webinar | October 30, 2024

    Join ABA for a webcast discussing the growing potential for major tax reform and what that means for you and your bank. The expiration of the major portions of the Tax Cuts and Jobs Act could be the catalyst for a major tax reform event in 2025, and there are implications for banks and bank customers of all types.

In Depth

Our Experts

Joey Connor

Joey Connor

VP, Tax Policy

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Press Contact

Blair Bernstein

(202) 663-5468

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