Tax Overhaul Marked by Blinding Speed

Tax Overhaul Marked by Blinding Speed

The Republican tax plan is moving at a tremendous speed for such broad legislation. Since the day the House Ways and Means Committee revealed its policy on tax reform only two weeks have gone by until the day the House passed the bill. The Senate has lagged, but not by much, as a mere 23 days elapsed between unveiling details of a tax plan and passage. Lawmakers have been persistent on their goal of having tax reform on the President’s desk before Christmas. Achieving this goal would mean that the current legislature will have overhauled the entire U.S. tax system in less than eight weeks. The speed of this passage may be the cause of concern as some critics say that this is not enough time to accurately review the current proposal. The reconciliation process between the House and the Senate plan to start sometime this week.

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