The Senate and House versions of the Republican tax bill are significantly different, requiring a conference committee to hash out the discrepancies.
Some of the key sticking points: Obamacare mandate repeal, the length of individual tax cuts, and more.
The House voted to formally kick off the conference committee process on Monday.
While both the House and Senate have passed their own versions of the Republican tax plan, the fight remains far from over.
There is little doubt among investors and analysts that some type of legislation will reach President Donald Trump’s desk. But negotiators now need to iron out significant discrepancies between the House and Senate versions of the Tax Cuts and Jobs Act (TCJA) and pass that version in both chambers.
The House voted to formally kick off the conference committee process on Monday, and House Speaker Paul Ryan and Minority Leader Nancy Pelosi appointed conferees. It is expected to come out of negotiations with a compromise bill sometime in mid-December, according to Issac Boltansky and Lukas Davaz, analysts at the research firm Compass Point.
“The conference committee process could be volatile, but we expect it to move quickly and odds favor the president signing a bill this year,” the analysts wrote Monday. “We …read more
Source:: Businessinsider – Politics