House Republicans delay tax plan rollout
designer491/iStock/Thinkstock(WASHINGTON) — House Republicans are delaying the rollout of their tax bill amid unresolved questions about key elements of the plan.
Republicans were slated to unveil the bill Wednesday, but are now pushing the announcement to Thursday, according to two House GOP sources.
Republicans continue to wrestle with potential changes to state and local tax deductions and 401K retirement savings plans that would generate revenue to help pay for the tax cuts in the proposal, which could add $1.5 trillion to the deficit over 10 years.
The House Ways and Means Committee had initially planned to consider the legislation next week. It’s unclear if Republicans will still do so. A committee aide declined to comment on the delayed rollout.
House and Senate GOP leaders aim to pass the tax proposal by Thanksgiving, and send legislation to President Trump for his signature by Christmas.
The delay raises new questions about Republicans’ ability to adhere to their ambitious timeline. The last comprehensive tax reform effort, a bipartisan push under President Reagan, took several years from start to finish.
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