GOP Tax Bill Still Too Expensive

“A day after House and Senate Republican leaders said they had reached agreement on a merged version of their tax bill, they continued looking for ways to pay for the tax overhaul and faced the possible defection of a Republican senator, Marco Rubio of Florida,” the New York Times reports.

“Republicans plan to unveil a final bill on Friday… But many of the changes made to assuage the concerns of businesses and Republican lawmakers are expected to drive up the cost of the bill and will need to be paid for to ensure the legislation does not add more than $1.5 trillion to the deficit over a decade.”

Washington Post: “Congressional Republicans are looking at shortening the duration of tax cuts that their plan would give to families and individuals… That change would free up more revenue for additional changes to their tax overhaul, but it could also heighten complaints that the bill prioritizes cuts for corporations over households.”