The House began its efforts to write a tax bill when the Budget Committee released a draft budget resolution. The goal: To make that fiscal plan the vehicle for a major tax measure that could pass Congress with no Democratic votes. However, the House Budget Committee’s fiscal blueprint suffers from many of the same flaws as the congressional effort to replace the Affordable Care Act. Even budget panel chair Diane Black (R-TN) seems unsure about whether the House will pass the fiscal plan. It also gives the tax panel maximum leeway in what it includes in a tax bill.

Source: Forbes July 18, 2017 20:35 UTC