House GOP Leadership To Save Tax Reform

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Meanwhile, Republican leaders, who can afford to lose only 22 members of their caucus, are scrambling to find a solution that would get enough Republicans on board to move forward with the budget, which is considered the first step in tax reform.

"There would need to be more progress made in figuring out the solution on this issue in order for me to vote for the resolution on Thursday", Zeldin said. They describe their support for a budget that would increase deficits as a concession to the hard political realities they face in pushing for spending cuts, or to the demands of constituents who they say are more concerned about taxes than they are about the debt. An initial version of the budget resolution passed earlier this month by a vote of 219-207, as 218 votes are needed to ensure passage. They passed the measure 10-2, meaning floor votes could happen as early as Wednesday.

But numerous House conservatives said in interviews this week that this time is different: Republicans are under enormous pressure to pass a tax bill, given the party's failure to take legislative action on health care, and they do not want to be seen as standing in the way. "House Republicans will be allowed to vote their conscience on the GPT bill".

The Republican tax reform framework proposes eliminating the State and Local Tax deduction (SALT), a popular tax break that affects almost one-third of filers, letting them deduct levies like state income taxes and property taxes.

"That language shouldn't have been added to the Senate budget", said Rep.

Ways and Means Committee Chairman Kevin Brady, the House's top tax writer, told reporters Tuesday that his committee could release a tax bill November 1, if the budget process is finished in the coming days, according to Bloomberg.

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"They think the main thing is the main thing, and the main thing is tax reform", said Rep. Bill Flores, R-Texas, a former chairman of the Republican Study Committee. One said leaders "are feeling good" about the Thursday vote but acknowledged talks are underway.

While keeping open the possibility of changing 401 (k) s, Brady also said he continues to seek a compromise with rebellious GOP lawmakers from high-tax states over the tax plan's proposed elimination of the federal deduction for state and local taxes. So we're seeing a lot of ideas for changes to the tax code that would bring in revenue to offset tax cuts.

"I had hoped the meeting this afternoon with our leadership in the House would yield an actual proposal, and we're not there yet", MacArthur said.

Speaker of the House Paul Ryan (R-WI) speaks during a press briefing on Capitol Hill in Washington, U.S., September 7, 2017.

"The only reason we're voting for this budget now is so they can move tax reform next week, and I don't know what's in the tax reform bill other than they're saying SALT is going to be out", Mr. King said.