How will Republican lawmakers address expiring provisions in the Tax Cuts and Jobs Act and tax-related campaign promises? There are various opinions on how to proceed. President-Elect Donald Trump is calling for “one powerful bill” to address tax, border and energy issues. House Ways and Means Committee Chair Jason Smith (R-MO) also recommends one reconciliation bill that includes tax provisions (including increasing the child tax credit). However, incoming Senate Majority Leader John Thune (R-SD) has suggested a two-step reconciliation plan. Thune would like to pass one bill addressing the border, defense and energy and a second bill that tackles taxes. Stay tuned.
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