Trump and Republican Leaders Meet on Tax Reform

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Last week, President Trump met with Republican leaders from both houses of Congress to discuss the administration's plans for moving forward with tax reform this year.  The President said he expects a revenue neutral tax bill to be acted on in the fall of 2017 through the budget reconciliation process.

 

Budget reconciliation allows bills to be approved by the Senate with a simple 51-vote majority.  Republicans currently hold 52 seats in the Senate, although the members of the party are not in full agreement on all aspects of reform.  Reconciliation also limits Senate debate to 20 hours, effectively eliminating the filibuster technique by which Democrats might delay passage.

 

Marc Short, White House Director of Legislative Affairs, said the administration has also met with Democratic legislators, from both houses and from several different congressional committees and caucuses, to collect their tax reform proposals.  "Ideally," Short said, tax reform "will become a bipartisan effort."

 

A comprehensive and updated tax reform plan to broaden the tax base and simplify the code will be released by the administration in the next few weeks, Short said, noting that "to jumpstart the economy, we need to cut taxes for both businesses and individuals, and this administration has proposed one of the largest tax cuts in American history."

 

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