President Trump said “that his proposed tax plan would not prompt any changes to Americans’ tax-deferred retirement plans, pushing back against reports that the Republicans are weighing a proposal that would significantly reduce the income workers can save in these popular programs,” the New York Times reports.

“Mr. Trump’s shutdown of the proposal is the first of what many Republicans privately fear could be a presidential pattern that disrupts their efforts to pass a sweeping overhaul of the tax code. In it, Mr. Trump appeared to rule out a politically difficult idea, which, if enacted, would have provided some revenue to help pay for the tax plan.”

Vox: “Don’t look now, but it’s becoming a real possibility that the government will shut down in December. Congress has until midnight on December 15 to pass a spending bill or the federal government will run out of money.”

“The tricky thing is that Republicans need at least eight Democrats in the Senate to meet the 60-vote threshold needed to pass a bill, which means they will need to make some serious compromises to get a spending bill through.”

“The Republicans on the House Ways and Means Committee — engaged in a high-pressure, high-stakes tax policy rewrite — are currently exploring not cutting the income tax rate for people who earn $1 million or more per year,” according to Jonathan Swan.

Playbook: “Multiple Republicans have even suggested to us the tax rate could go from 39.6% to 40% for top earners. It’s tough to separate hyperbole from reality, so take this with a grain of salt. If it happened, it would would strip Democrats of a talking point, and could help with revenue. On the other hand, Republicans would be raising a tax rate. We doubt it will happen, but it does give a sense of where the debate is.”

President Trump “urged House Republicans on a conference call to rally behind a Senate-passed budget bill, touting it as the quickest way to enact sweeping tax cuts later this year without Democratic support,” the Washington Post reports.

Said Trump: “We are on the verge of doing something very, very historic.”

“Following multiple failed attempts to overhaul the health-care system, Republicans are ­eager for a marquee legislative victory and see tax reform as their best shot at working with Trump to deliver on a major campaign promise.”

Stan Collender: “The U.S. Treasury Department reported last Friday that the federal budget deficit for the just-completed fiscal year had risen by $80 billion over fiscal 2016 to the ominous-sounding $666 billion, a number many people think is an omen for the coming of the devil or anti-Christ.”

“In this case they may be right: The spending and taxing policies about to be put in place by the Trump administration and the Republican-controlled Congress will balloon the federal deficit to $1 trillion or more every year going forward.”

“And unlike the four consecutive $1 trillion deficits recorded during the first years of the Obama administration, these trillion dollar annual deficits will be the result of enacted changes in federal spending and taxing rather than on a temporary economic downturn.”

“Congressional Republicans are readying themselves for a new obstacle on tax reform: President Trump and his penchant for disruptions,” Politico reports.

“There’s no doubt that Trump badly wants a tax deal, and he appears very willing to travel the country in support of one. But the GOP lawmakers that are crafting the tax measure are also bracing themselves for the president to potentially disturb their negotiations at any moment, as he has done throughout his nine months in office and this week on a bipartisan Senate agreement to shore up Obamacare insurance markets.”

New York Times: “The swift pace to complete, release and quickly vote on a tax cut is aimed at leaving little time for the type of dissent that has scuttled previous tax proposals.”

“The speed is striking — and strategic — for tax legislation that lobbyists believe could span 1,000 pages. Republicans hope the breakneck pace will help hold their narrow Senate majority together against what will almost certainly be a deluge of lobbying and Democratic criticism.”

Speaker Paul Ryan and Senate Majority Leader Mitch McConnell “put the finishing touches on a bicameral budget deal allowing Congress to swiftly move to tax reform, multiple sources in both chambers said. The Senate approved the budget 51-49 Thursday night, clearing the way to cut as much as three weeks out of the process,” Politico reports.

“GOP leaders, as well as House Budget Chairman Diane Black and Senate Budget Chairman Mike Enzi, have been ironing out their difference and crafted a Senate amendment full of House-requested tweaks. Because the Senate adopt the amendment during its marathon ‘vote-a-rama’ Thursday, the House could clear the fiscal blueprint as soon as next week.”

Said one House GOP aide: “Members know how high of a priority tax reform is, and so that’s how it will be sold.”

“President Trump suggested at a meeting with senators that the Senate create a bipartisan working group for tax reform, surprising Republicans who’ve been planning to pass a party-line bill,” Politico reports.

“While everyone in the room nodded along with Trump’s hopes for bipartisanship, there was no agreement among senators to actually create such a group, which is viewed by some Republicans as redundant to the existing Finance Committee.”

Playbook: “The ship has sailed on a bipartisan tax overhaul. Republicans have been working for months on their proposal. This does highlight, though, the reason Republicans are skittish about working with the president. You never know what he’ll do.”

A new CNN poll finds that 52% of Americans oppose President Trump’s recent tax reform proposals, while only 34% say they support the Trump plan.

“The Senate took an important step toward enacting Republican tax cuts Tuesday, voting to start debate on a budget resolution that would allow the chamber to approve a GOP tax proposal with a simple majority of votes,” the Washington Post reports.

“The chamber voted 50 to 47 along party lines midday to proceed to debate on the budget resolution, a victory for Republican leaders who had faced the threat of several defections.”

Sen. Rand Paul (R-KY) is prepared to vote “no” on the Senate Republican budget if leaders do not agree to cut billions in spending from the plan, Politico reports.

“With Sen. Thad Cochran (R-MS) out indefinitely, Republicans may be able to lose only one vote and still pass the budget, which is needed to pave the way for the GOP’s tax push.”

Speaker Paul Ryan (R-WI) predicted in an interview with a Milwaukee radio station that tax overhaul legislation would pass in the House by “early November” and make it through the Senate to President Trump’s desk by the end of December, The Hill reports.

“Ryan expressed optimism that Republicans would have more success with tax reform than with their failed efforts to repeal and replace the 2010 health-care law.”

Axios: “Republicans haven’t introduced an actual bill yet, and Congress has a fairly full plate right now, from immigration to Iran to government funding for the rest of the year. There are 28 legislative days left in 2017.”