The Senate passed its version of the Tax Cuts and Jobs Act, H.R. 1, on December 2. On December 4, the House moved to enter into a conference committee with the Senate to resolve differences with the Senate version. Although there are similarities in the versions of the bill that passed both chambers, there are key differences that have to be addressed, including individual tax rates, the treatment of pass-through businesses, and when the 20 percent corporate tax rate will begin.