Senate May Vote on Its Tax Reform Bill as Early as Thursday, but There Are Hurdles to Overcome

At least a half dozen Republican senators have shown concern about the Senate version of the Tax Cuts and Jobs Act, threatening the passage of the bill by the end of this year. The bill, passed out of the Senate Finance Committee on November 17, faces its next major hurdle from the Senate Budget Committee who will meet Tuesday, November 28, to add a revenue-raising measure allowing drilling in the Arctic National Wildlife Refuge. Senate Budget Committee members who have expressed doubts regarding the bill include Sen. Ron Johnson, the only declared “no” on the tax legislation who believes that small businesses will be disadvantaged, and Sen. Bob Corker who has concerns about the economic growth purportedly generated by the bill. If the bill passes out of the Senate Budget Committee, the Senate could vote on the bill as early as Thursday.  However, the Republicans only hold a two-member majority in the Senate. Other Republican senators have expressed concern with the current bill, including Sen. Steve Daines, regarding the treatment of pass-through entities, and Sen. Jerry Moran, regarding the repeal of the individual health insurance mandate. If the bill is successfully passed by the Senate, Republicans from both the House and Senate will need to reconcile the changes from the legislation previously passed by the House. President Trump plans to attend the Senate Republican’s weekly policy lunch on Tuesday to advocate for the bill’s passage.

Read more: Tax reform hangs in balance in critical week for GOP

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