House GOP Unveils Giant Tax Bill

“House Republicans on Monday evening unexpectedly released a 297-page tax bill they hope to move during the lame-duck session of Congress,” Politico reports.

“The legislation would revive a number of expired tax provisions known as ‘extenders,’ address glitches in the Tax Cuts and Jobs Act and make a range of changes to savings- and retirement-related tax provisions. Other parts of the bill would revamp the IRS, provide new tax breaks for start-up businesses and offer assistance to disaster victims.”

“The measure amounts to House Republicans’ opening bid in negotiations with the Senate. They’ll need Democratic support there to move any changes, and it’s unclear lawmakers will agree to any of the provisions before adjourning for the year.”