Welcome to Tax Week
It’s Tax Week in the US House of Representatives.
The House Ways and Means Committee is scheduled to mark up at least $4 trillion in tax cuts Tuesday, the culmination of marathon negotiating sessions and an 11th-hour meeting between President Donald Trump and panel Chair Jason Smith (R-Mo.).
Preliminary legislation unveiled May 9 aimed at extending provisions in the 2017 tax law and providing additional deductions for families and pass-through businesses. That “skinny” bill totals $4.9 trillion, the Joint Committee on Taxation estimated Saturday.
That’s hundreds of billions more than their authorized deficit cap laid out in ...
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