Friday, 17 November 2017 11:30

Houses Passes Tax Overhaul

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(Washington)

The Republican tax package is half way home. Yesterday, the House passed a tax overhaul, sending the package on to the Senate. The package passed is considered the most sweeping since Reagan, and would lower overall government tax revenue by $1.4 tn. However, the bill faces an uncertain future. Senate Republicans have an even more extreme iteration of the tax package, and there is already a serious pushback from not only Democrats, but Republicans too. This makes passage uncertain, and anything that does get passed by the Senate is likely to be sent back to the House.


FINSUM: It is very hardtop predict how this will play out. There have been many times this year where measures passed in the House only to die in the Senate.

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