House Narrowly Passes Budget, Paving Way For $1.5 Trillion Tax Cut

0

House Republicans agreed to budget legislation Thursday morning, narrowly overcoming internal dissension and Democratic opposition to clear a major obstacle in the GOP’s quest to pass large-scale tax cuts.

The budget legislation authorizes special procedures that will allow Republicans to reduce federal revenue over the coming decade by as much as $1.5 trillion without Democratic help. Its adoption launches what GOP leaders hope will be several weeks of intense legislating, culminating in House passage before Thanksgiving.No Democrats voted for the budget Thursday, nor did 20 Republicans, indicating ongoing qualms about the tax push within the party.

 

The budget’s passage came after months of wrangling between various factions of the Republican Party, with adherents of supply-side economics facing off with deficit hawks, as well as with members with more parochial concerns.

(c) 2017, The Washington Post · Mike Debonis  

{Matzav.com}

LEAVE A REPLY

Please enter your comment!
Please enter your name here