House and Senate Tax Plan State of Play

Speaking of taxes, how about conservatives start cutting them?

The Senate budget that passed this past weekend is very strong on taxes, including the “current policy” baseline to sidestep flawed JTC/CBO scoring and make the 2017 tax cuts permanent.

President Trump’s message to House conservatives who feel betrayed on spending is clear:

Budget hawks should realize that given the massive stock selloff, the odds of a recession have greatly increased. Among other things, that would drill a much deeper hole in the budget and worsened the deficit.

That should translate into urgency to get the tax bill passed right away to offset any negative effects of tariffs.

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