GOP Gears Up for Tax-Overhaul Push

GOP Gears Up for Tax-Overhaul Push

Both the Senate and the House have respectively passed budgets that will allow both bodies to work on tax reform immediately. To begin this process the House and Senate must pass the exact same document. However, negotiation talks have already been warranted and are thought to take place before the end of next week. Once this bill passes Rep. Kevin Brady (R., Texas), the top House legislator, will release his tax bill. This proposal will provide us with specificity about the plan including what Republicans plan to do with state and local tax deductions, child tax credits and other points of contention. Fast-track reconciliation procedures will allow the Senate to pass a bill with a simple majority and not with a 60-vote threshold that would require Democratic votes. Tax reform is considered to be an utmost priority for conservative legislators and would be seen as a disaster if Republicans fail to pass this meaningful legislation.

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