Thursday, October 19

Republicans to approve budget as part of tax reform efforts

President Donald Trump has said that the Senate’s scheduled vote on budget legislation is a “first step towards massive tax cuts,” but he is expressing cautious optimism on mustering the needed votes in the chamber.

“Republicans are going for the big budget approval today, first step toward massive tax cuts. I think we have the votes, but who knows?”, Trump tweeted on Thursday morning.

After deliberating on the fiscal year 2018 budget over the past two days, the Senate is expected to take up a vote on the resolution some time on Thursday.

Passing budget legislation is a key first step for Republicans that will allow them to seek to approve tax reform legislation via a process call reconciliation, allowing them to approve the bill with a simple majority as opposed to the Senate’s typical 60-vote threshold, thereby avoiding a Democratic filibuster.

culled from Ynaija

No comments:

Post a Comment

Follow us on Social Media:
Twitter: @Naijaslog
Facebook: @Naijaslog
Instagram: @Naijaslog

Disclaimer: The views expressed in the comment section are those of our users and do not reflect the views of Naijaslog.