The Republican Tax Bills Are About to Shrink

When Republicans in the House and Senate unveiled their tax bills to great fanfare over the last two weeks, they glossed over a small but critical detail: Neither of them, as written, can pass Congress with GOP votes alone. Both proposals are over-budget, analysts say, and would require significant revisions to abide by Senate procedural rules. Republicans likely will adjust their plan by making some of the biggest tax cuts expire in the next decade, a change that limits the legislation's potential for economic growth and would force lawmakers to confront potential tax increases years in the......(read more)

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