McConnell Promises Tax Overhaul Is Coming Next Spring

|
December 12, 2016 11:17 a.m.

Majority Leader Mitch McConnell (R-KY) told reporters Monday that Republicans plan to tackle a tax overhaul in the spring of 2017.

The Senate will use the procedural process known as budget reconciliation, which only requires 51 votes to pass in the Senate, to undertake the tax overhaul. While Republicans will use the first budget resolution in January to repeal the Affordable Care Act, the second will be used in the spring to cut taxes.

“We will do one later in the spring, which will largely be dedicated to tax reform.” McConnell told reporters. “So they’ll be two, and they will set up reconciliation follow on vehicles for us to address two very important issues the President-elect talked about and we all care about. “

McConnell said that the single biggest reasons jobs move overseas is that the U.S. tax structure “makes it very difficult in many instances to stay here.”

Newsletters
Get TPM in your inbox, twice weekly.
Your subscription could not be saved. Please try again.
Your subscription has been successful.

McConnell’s comments give a strong indication of where the GOP’s priorities are at the moment with President-elect Trump. While House Republicans like HHS nominee Rep. Tom Price (R-GA) had hinted earlier this fall that a second budget reconciliation might include plans to overhaul Medicare. McConnell’s message appears to be that a tax overhaul will come before Medicare changes.

In the Senate, there has been far more appetite to take on a tax overhaul rather than change Medicare. Senate Republicans have tried to play down any interest in changing the elderly health care program.

McConnell also voiced skepticism that a multi-trillion dollar infrastructure bill was a good idea or use of the GOP’s time and resources, which could be a departure from Trump who has said infrastructure is a top priority.

Latest Livewire
Comments are now Members-Only

Non-members are still able to read comments, but will no longer be able to participate. To join the conversation, sign up now and get:

30% Off Annual Prime Membership

TPM strives to build as inclusive a community as financially possible. We offer FREE memberships to those experiencing financial hardship and FREE memberships for students.

View all options
Comments
Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Managing Editor:
Associate Editor:
Editor at Large:
General Counsel:
Publisher:
Head of Product:
Director of Technology:
Associate Publisher:
Front End Developer:
Senior Designer: