CT News Junkie | House to Debate GOP Tax Overhaul Bill

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House to Debate GOP Tax Overhaul Bill

by | Nov 13, 2017 1:46pm
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Posted to: Congress, DC News Junkie, Federal Budget, Taxes

Connecticut lawmakers have lined up in opposition to a sweeping overhaul of the federal tax code that will be on the House floor this week for debate. The bill, crafted by Republicans, would add $1.5 trillion to the deficit as it reduces the tax burden for corporations as well as many individuals.

The deal would eliminate many of the itemized deductions taken by about 40 percent of Connecticut tax filers that make the GOP plan unattractive for the state. The objections raised by the Connecticut Democrats won’t affect the outcome of the vote as Republican leaders are relying on their own majority to carry the bill forward. But, concerns over dropping the State and Local tax deduction also reverberate in California, New York, and New Jersey – where there are enough Republican House members to block the bill’s passage – should they decide to draw a line in the sand.

So far, House Republicans appear willing to allow the bill to move forward now and rely on negotiations with the Senate Republicans to determine a final version of tax reform. The Senate Finance Committee unveiled its tax overhaul plan last week.

NPR has more on the House and Senate tax plans.

Roll Call has more on the politics ahead.

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