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GOP nears initial victory on tax reform | TheHill

posted onNovember 13, 2017
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Article snippet: House Republicans are on the precipice of a big victory on tax reform, but the legislation still faces enormous hurdles before it can reach President Trump’s desk and be signed into law. Legislation is expected to receive a vote on the House floor this week after clearing the tax-writing Ways and Means Committee in a party-line vote with no GOP defections. At this point it would be a surprise if Republicans weren’t able to pass the bill through the House. “I do believe that the momentum continues to move us forward,” Rep. Mark Walker (R-N.C.), chairman of the conservative Republican Study Committee, told The Hill. He said Republicans can’t afford to hold off the bill after the failure to approve ObamaCare repeal. Last week’s losses in off-year elections across the country just added urgency for Republicans. “It will be difficult for members who voted against ObamaCare repeal to go 0-for-2 on their campaign promises,” Walker said. “I’d look for a huge vote.” An amendment Ways and Means Committee Chairman MORE (R-Texas) added to the bill on Thursday bolsters the odds of a successful House vote. The amendment created a new 9 percent tax rate for some small-business income — earning the support of the National Federation of Independent Business, which panned the initial House bill. It also restored the adoption tax credit, a top priority for conservatives. “It definitely made the bill stronger,” said Rep. Jason Smith (R-Mo.), a member of both GOP leadership and the ... Link to the full article to read more

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