The House this afternoon easily passed a sweeping tax bill that brings congressional Republicans and President Trump one step closer to the major legislative victory they are desperately seeking before the end of the year.
President Trump visited Capitol Hill earlier in the day ahead of the vote to rally support but no arm-twisting was needed in the 227-205 vote. Thirteen Republicans voted against the measure and no Democrats voted in favor.
Though the House vote is a major step in the process, Senate Republicans will still need to pass their own bill and then House and Senate negotiators will need to work out the differences between the two packages. The Senate bill is notably different than the House product, calling for repeal of the Affordable Care Act’s individual mandate and completely eliminating state and local tax deductions that are popular in high-tax states like California, New York and New Jersey. These differences could be difficult to reconcile, but for today, Ryan and other House leaders can say they are on track for a signature legislative win that has eluded them all year.
“We better do what we said we would do,” Ryan said before the vote. “We ran on tax reform. We know there’s nothing more we could do that will do more to grow the economy and raise wages, get after-tax incomes up, get economic growth faster, get to a 3 percent economy…We said we would do this, and we have to do this.”
In terms of provisions that impact the association community, the Senate bill is much more problematic than the House bill. ASAE is working on several provisions in the Senate bill which is being marked up this week in the Senate Finance Committee.