(John Voskuhl & Laura Davison – Bloomberg)
The $1.4 trillion item on President Donald Trump’s wish list – a package of tax cuts for businesses and individuals that he has said he wants to sign before year’s end – is headed into the legislative equivalent of a Black Friday scrum next week.
Senate Republican leaders plan a make-or-break floor vote on their bill as soon as Thursday – a dramatic moment that will come only after a marathon debate that could go all night. Democrats are expected to try to delay or derail the measure, and the GOP must hold together at least 50 votes from its thin, 52-vote majority in order to prevail. [...]
Trump is scheduled to address Senate Republicans at their weekly luncheon Tuesday afternoon on taxes and the legislative agenda for the rest of the year, according to a statement from Senator John Barrasso, chairman of the Senate Republican Policy Committee. Click here to read more.
- 37 of 38 Economists Said the GOP Tax Plans Would Grow the Debt. The 38th Misread the Question (Washington Post)
- Economic Experts Survey: Tax Reform (IGM Forum)
- GOP Tax Plan Could Hurt Homeowners, Banks, Real Estate Sector (Mercury News)
- “It’s a Ponzi Scheme”: Wall Street Fears Trump’s Deranged Tax Plan Could Kick Off Economic Euthanasia (Vanity Fair)
- Senate Tax Bill’s Potential Hurdle: Republicans (New York Times)