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You are here: Home / Budget & Taxes / Tax Bill Outlook Still Uncertain

Tax Bill Outlook Still Uncertain

January 29, 2024 at 7:46 am EST By Taegan Goddard Leave a Comment

Punchbowl News: “Johnson hasn’t announced publicly or told key members of his leadership whether he’ll put the $70 billion tax bill on the House floor this week. This shouldn’t be a terribly difficult call. The bill extends a host of business-friendly tax breaks alongside a minor expansion of the child tax credit. It passed the Ways and Means Committee by a 40-3 vote.”

“But Johnson has a big decision to make here. New York Republicans have raised hell with the speaker over the Ways and Means Committee’s unwillingness to lift the state and local tax exemption limit as part of this bill.”

“Empire State Republicans, ‘the majority makers’ last cycle, see this as something their leadership can do to help them back home. Northeast Republicans – many of them moderates – have been forced by their leadership to vote for toxic bills for more than a year now.”

“The House GOP leadership doesn’t want to put this bill on the floor under a rule – the only way it’s amendable – because it presents a whole host of other complications. And GOP leaders effectively believe they can call the New Yorkers’ bluff. They won’t vote against this package because it includes wildly popular provisions, the thinking goes.”

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Filed Under: Budget & Taxes, House of Representatives

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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