TAX REFORM

[HairOfTheDog]

The bill has passed and this tax reform will become law. Hopefully it helps as many people as possible. Now they need to pass a budget something that hasn't been done in quite a few years.

The Senate tax reform bill just got the required votes to pass. But, a bill won't make it to President Trump's desk until the House and Senate bills are melded and the consolidated bill is passed by Congress.

There is still disagreement between the two branches when it comes to mortgage-interest deduction, taxing small businesses, and keeping the alternative minimum tax. It looks like the Republicans are very motivated to negotiate though and it will probably happen soon enough.

Trump handled this legislation much better than the Health Care repeal effort, in my opinion. Instead of insulting resistant senators publicly, he reportedly talked to them and worked to address their concerns (and made some concessions for Senators Johnson and Collins).

I don't like a lot of things about this tax reform proposal, but hope it really does end up generating enough economic gains to help most everybody.

Here's the senate bill: https://www.wsj.com/public/resources/doc...012017.pdf