Politics Senate Agrees to Tax Bill Conference With House

00:41  07 december  2017
00:41  07 december  2017 Source:   Roll Call

Senate to vote to move to conference on GOP tax overhaul plan

  Senate to vote to move to conference on GOP tax overhaul plan The House voted Monday to move to conference with the Senate on the tax measure, the next step toward a final billThere will be 10 hours of debate on the motion, followed by a vote. The House voted Monday to move to conference with the Senate on the tax measure.

House GOP leaders and tax writers agreed to keep the property tax deduction with a ,000 cap, which won over some wavering Republicans. Going to Conference ? Speaker Paul D. Ryan on Thursday dismissed concerns about differences between the House and Senate bills , saying they

Alternatively, the House and Senate can each disagree to the position of the other on a bill and then agree to create a conference committee to propose a 4 From time to time, Senate committees and even the Senate as a whole may take some action on a Senate appropriations or tax measure.

Rep. Kevin Brady, R-Texas, will be a key negotiator as the House and Senate reconcile their versions of a tax overhaul. (Tom Williams/CQ Roll Call) © Provided by CQ Roll Call, Inc. Rep. Kevin Brady, R-Texas, will be a key negotiator as the House and Senate reconcile their versions of a tax overhaul. (Tom Williams/CQ Roll Call)

The Senate voted Wednesday to officially begin conference negotiations with House members over a tax code overhaul, as Republicans race to send a finished bill to President Donald Trump’s desk before Christmas.

The 51-47 party-line vote was largely a formality. Behind-the-scenes talks have already begun since the Senate passed its version early Saturday morning, following House passage of its own bill before Thanksgiving.

Trump triumphs after Senate passes what he calls 'biggest tax bill' in history

  Trump triumphs after Senate passes what he calls 'biggest tax bill' in history <p>President Donald Trump said the legislation was a step towards an overhaul of the U.S. tax system.</p>"Biggest Tax Bill and Tax Cuts in history just passed in the Senate," Trump tweeted. "Now these great Republicans will be going for final passage.

Both the House and Senate bill would eliminate deductions for state and local income taxes and sales taxes paid. A key feature of both bills is a reduction in the corporate tax rate from 35 percent to 20 percent. But the Senate version delays the cut for one year.

Once the Senate amends and agrees to a bill that the House already has passed -- or the House amends and passes a Senate bill -- the two houses may begin to resolve their legislative differences by way of a conference committee or through an exchange of amendments between the houses .

Central differences in the two proposals need to be resolved on individual tax brackets and rates, keeping or repealing the alternative minimum tax, the structure for taxing pass-through business income, the expiration of key tax breaks and more.

Several of those decisions also come with difficult math problems, as Republicans try to keep the final tax measure under the $1.5 trillion limit set by a budget framework previously adopted by both chambers.

Other differences will be less tricky to sort out. For example, House Republicans are expected to happily accept provisions in the Senate version that would repeal the individual mandate in the 2010 health care law and open up oil drilling in part of the Arctic National Wildlife Refuge in Alaska.

Top GOP senator: House and Senate 'not that far apart' on tax bill

  Top GOP senator: House and Senate 'not that far apart' on tax bill Sen. John Barrasso (R-Wyo.) on Sunday said he's optimistic the House and Senate will be able to hash out differences in the chambers' respective tax reform bills and get legislation to the president by the end of the year. "We're not that far apart. Fundamentally, for the American public, we double the standard deduction, double the child tax credit, and lower the rates," Barrasso said on "Fox News Sunday."The Senate passed legislation early Saturday morning to overhaul the tax code, approving the plan by a 51-49 vote.

The House voted Monday to appoint lawmakers to a conference with the Senate on how to combine tax reform legislation authored by Republicans in each chamber, the latest step in the GOP plan to get a final bill to President Trump's desk by Christmas.

Senate passes tax bill , conference with House next. Senate Majority Leader Mitch McConnell, R-Ky., predicted at an afternoon news conference that the tax overhaul could be completed by Christmas.

Further changes are also on the table beyond what was in either the House or Senate plans, like a possible tweak that would maintain certain limited deductions for state and local income or sales taxes.

Both chambers’ tax bills would have allowed up to $10,000 in property taxes to be deducted, but lawmakers from high-tax states, particularly California, have sought additional tax benefits for their constituents.

Some GOP lawmakers have said they’re confident they’ll wrap up a final tax package before the holidays. Congress is expected to remain in town through Dec. 22, when a continuing resolution released last week by the House Appropriations Committee is set to expire.

The House is set to take up that stopgap spending measure on Thursday. The Senate will need to pass it before midnight on Friday, when current government funding expires.

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McConnell vows the government will not shut down .
Republicans and Democrats are negotiating a budget deal to lift spending caps and a government spending packageSenate Majority Leader Mitch McConnell vowed Tuesday that the government would not shut down in the next few weeks as Democrats and Republicans negotiate year-end deals on government spending.

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