Congressional Republicans’ push to overhaul the tax code is centered around two basic principles: Providing corporations with a big tax cut while helping average Americans. But like almost every major issue lawmakers tackle, competing House and Senate bills aimed at achieving these goals aren’t as simple or clear-cut as their authors want the public to believe.
Independent analyses of the tax plans undercut the GOP’s rosy predictions for how much middle-income earners would benefit (especially the House version). Although Senate Republicans’ measure is akin to the one House Republicans are preparing to approve this week, they take significantly divergent paths. If both bills pass intact, Republicans will have to broker a compromise among themselves to advance final legislation to President Trump’s desk. Such an endeavor would be messy and contentious, with success far from guaranteed. Continue reading “Sizing Up The GOP Tax Plans”