While the certainty of passing isn't known, companies who are not C corporations e.g. LLC's, LLPs, partnerships, S corps (referred to collectively as passthrough entities), should keep a close eye on the proposed tax reform 2.0.  The goal is to make the 20% deduction for certain passthrough entities, which expires at the end of 2025 under the current tax law, a permanent deduction.  If passed under Tax Reform 2.0, this would increase the fair market value of passthrough entities (all other factors held constant) given the lower permanent tax rate would increase cash flow into perpetuity.  Currently, when valuing a passthrough entity, the expiration of the 20% deduction must be taken into consideration by applying a higher tax rate (pre tax reform rates) into the valuation.