House Ways and Means Republicans are tentatively scheduled on March 10 and 12 to start drafting the GOP’s party-line bill enacting President Donald Trump’s tax agenda, according to a Republican lawmaker and another person granted anonymity to share the private plans.
In the sessions, which are anticipated to last all day, committee members will begin to hash out how they will attempt to extend Trump’s expiring tax cuts from his first term and enact his campaign promises such as eliminating tax on tips and overtime work.
But tax writers will have a narrow window to enact those priorities because the House budget blueprint set an upper limit of $4.5 trillion on the costs of the legislation.
Ways and Means Republicans have floated various proposals, including a cap on certain deductions for companies, in order to tamp down on the costs. Tax writers have indicated they may have to implement some tax policies on a short-term basis to fit everything in.
