The State of Trump’s Tax Reform

Playbook: “The Big Six — the tax writing chairmen, top GOP leaders and top White House advisers — are releasing a framework at the end of the month. The framework might or might not have rate targets, but our sources tell us it will be a meaty document. Then the committees will hold markups. Republicans are aiming to pass the budget in mid-October. If they get that done — far from a sure thing — they’ll have fewer than 20 legislative days to rally support around and pass tax reform. Oh yeah, they need to keep the government open.”

Jonathan Swan: “Republicans still have one big problem. The House and Senate have to reach an agreement on a budget resolution — which would set the broad outlines for tax reform — before they can work on a detailed tax reform bill. Yet conservatives like House Freedom Caucus chairman Mark Meadows aren’t ready to commit to voting for a budget resolution unless they know the tax reform details first. If Republicans can’t satisfy them, there’s no guarantee they’ll get past Step 1.”

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