Jorge Castro commented on the most consequential developments in federal tax policy from the first half of 2024 and the outlook for 2025 when Congress will consider key provisions from the Tax Cuts and Jobs Act (TCJA) that are set to expire. Republican members of the House Ways and Means Committee have formed Tax Teams to study particular aspects of the TCJA and the tax code in general, aiming to consider a menu of legislative options. While these efforts are currently being led by Republicans, there is bipartisan support for extending certain TCJA provisions. Castro emphasized that educating members of Congress will be important for stakeholders, mainly because there has been significant turnover in Congress and the Ways and Means Committee since passage of the TCJA in 2017. "I'm hearing from more and more chairs of the Ways and Means TCJA tax teams that as they're considering issues and options... for 2025, they're developing their own reading lists and meeting materials just to get educated," Castro said.