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Here is your daily round-up of news and analysis to keep you informed as tax reform works its way through Congress.
In the news
Politico: “Senate GOP clears key hurdle on taxes”
The Senate set the stage Wednesday for possible passage of its tax bill later this week, voting to begin formal debate after a day of wheeling and dealing for enough Republican votes.
On a party line 52-48 vote, the Senate moved to formal debate on the GOP legislation, which Republicans are hoping to pass before the end of the year so they can take a key legislative victory into the 2018 elections after a year of disappointments on other major bills. The House passed its own version of tax reform earlier this month.
Forbes.com. Wayne Winegarden: “Fiscal Conservatives Should Support Tax Reform”
This week, the U.S. Senate is slated to vote on comprehensive tax reform. But some fiscal hawks are worried about the bill's impact on the deficit.
In the short term, these lawmakers are right to worry. Contrary to the analyses of some optimistic supporters, the tax cuts probably won't pay for themselves. But fiscal hawks like Senators Bob Corker (Tenn.), Jeff Flake (Ariz.), Todd Young (Ind.), and James Lankford (Okla.) should support this bill with a clear conscience because the economic benefits outweigh its costs, laying the groundwork for policymakers to address the real sources of our fiscal challenges.
Fox 6 (Milwaukee, WI): “U.S. Sen. Ron Johnson flips to ‘yes’ vote on GOP tax bill, clearing major hurdle”
For the second time this year, U.S. Sen. Ron Johnson of Wisconsin gave a last-minute endorsement of a key piece of Republican legislation, this time allowing the GOP's tax bill to squeak past a major hurdle by the slimmest of margins.
Johnson, who said as recently as Monday that he would not vote for the tax bill if it wasn't changed, said Tuesday, November 28th that he got a personal guarantee from President Donald Trump that Republicans would address his concerns. He cast the deciding vote in the Senate Budget committee, and the measure passed, 12-11.