The House has taken the first step in enacting President Trump’s tax agenda, according to reports from AP News and Bloomberg Tax. However, by leaving out some of the President’s campaign promises for additional individual tax relief, raising the debt limit by $4 trillion, and substantial cuts to safety-net programs, it appears there is still a long legislative road ahead.
Coupled with Senate Republicans’ desire for deeper tax cuts and a smaller impact on safety-net programs, the contents of a bill that ultimately makes its way to the President’s desk remains unclear.
Chances for early action on Donald Trump’s tax cut plans improved as House Republicans passed a budget blueprint Tuesday calling for deep cuts in safety-net programs such as Medicaid. House Speaker Mike Johnson… overcame resistance from fiscal conservatives worried about the impact on budget deficits and swing-district lawmakers (other concerns)…
