Republicans prepare to fast-track tax cuts in reconciliation ...Middle East

The Hill - News

Republicans are getting ready to fast-track the extension of the Trump tax cuts through the reconciliation process if they win big in November. Nearly seven years after the GOP used budget reconciliation to pass the Tax Cuts and Jobs Act (TCJA), the party is gearing up to use the same maneuver to renew key provisions set to expire in 2026. While most legislation needs the support of 60 senators to avert a filibuster, budget reconciliation allows lawmakers to pass major tax and spending bills with a simple majority — and without bipartisan backing. Republican tax writers have already broken into working groups on specific tax topics in advance of the 2025 tax cut expirat

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Last updated : 29 May 2024 clock 01:24 PM

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Republicans prepare to fast-track tax cuts in reconciliation ...Middle East

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