Trump sets clock for tax reform with unexpected move

Trump sets clock for tax reform with unexpected move

September was widely expected to be a tough month. As the majority party, Republicans had the responsibility of keeping the government open and functioning, especially in the wake of a natural disaster. President Trump ultimately sided with top Democrats on the debt ceiling, to the surprise of many. The net effect of this is positive. September is no longer consumed by that fight and can now be used to urgently advance tax reform.

Congress is expected to first pass a budget resolution, which will enable them to use the procedural approach known as “reconciliation”. Reconciliation will make tax reform immune to a filibuster and allow its passage on a majority vote. Members of Congress now await the specific language pertaining to tax reform. But the overall goal is to help the private sector grow and expand, to incentivize more hiring, to see wages rise, to make our country more globally competitive, and to foster in a period of sustained annual economic growth of at least 3 percent. Health care divided Republicans, tax reform unites them. If President Trump and Congress can agree on tax reform before year’s end, they will go into 2018 with new optimism and momentum after a difficult year.

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