House GOP Unveils 297-Page Tax Bill for Lame-Duck Session Consideration House GOP Unveils 297-Page Tax Bill for Lame-Duck Session Consideration – NTK Network

House GOP Unveils 297-Page Tax Bill for Lame-Duck Session Consideration

Republicans in the House are hoping to pass a fairly large tax bill in the closing days of 2018 that aims to extend numerous tax provisions.

By NTK Staff | 11.27.2018 @1:00pm
House GOP Unveils 297-Page Tax Bill for Lame-Duck Session Consideration

House Republicans unveiled a 297-page tax bill Monday evening that they hope to debate, negotiate, and vote on before new members take office in January.

According to Politico, the bill “would revive a number of expired tax provisions,” as well as make changes to provisions affecting retirement and savings.

“Other parts of the bill would revamp the IRS, provide new tax breaks for start-up businesses and offer assistance to disaster victims,” Politico’s Brian Faler wrote.

House Republicans will need to work with Senate Democrats if they want the bill to clear the 60-vote threshold in the Senate. The ranking member of the Senate Finance Committee, Sen. Ron Wyden (D-OR), complained that House Republicans “are not negotiating with Democrats.” His spokesperson went further:

The bill’s unveiling came only hours after Sen. Ron Wyden (D-Ore.), the ranking Democrat on the Finance Committee, complained the House GOP had provided little inkling of what exactly they want to do on taxes in the lame duck. His spokesperson later gave the measure a frosty reception.

“The first time Finance Committee Dems saw Brady’s legislation was in his press release,” Wyden spokeswoman Rachel McCleery tweeted Monday evening. “There was no communication from his staff, including a heads up that something was coming. That is not how you negotiate.”

On the other side, House Ways and Means Chairman Kevin Brady (R-TX) called the bill a “broad, bipartisan package [that] builds on the economic successes we continue to see throughout our country.”

House Republicans and Senate Democrats will use the 297-page bill as a starting point for negotiations, and ideally work to pass something before members break for the holiday season in mid-December.

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