Republicans in the House and Senate passed their respective tax reform bills at breakneck speed.
Experts are starting to find errors and loopholes in the bills.
Members of the House and Senate conference committee will need to solve these issues and write a compromise bill.
As Republicans hurtle toward making their massive tax bill into law, experts are starting to find a slew of errors they say are likely the result of a rushed process.
Republicans argued that the bill was the culmination of years of work. But the actual bills off that work moved through both chambers of Congress at legislative light speed.
The House passed its version of the Tax Cuts and Jobs Act just two weeks after rolling it out. The Senate got its version through in three weeks — with a week off for Thanksgiving making up one of those.
Given the breakneck speed of passage and last-minute dealmaking that went into passing the bills (the Senate was making handwritten changes to their bill hours before it passed), it’s no surprise they have discovered complications in the immediate aftermath.
Perhaps the biggest of the errors came in the Senate bill, which at the last minute kept in the corporate alternative …read more
Source:: Businessinsider – Finance