House weighing 'host of ideas' in tax bill revision, Ryan says

From Reuters - November 5, 2017

WASHINGTON (Reuters) - U.S. House of Representatives Speaker Paul Ryan said on Sunday that Republican lawmakers are weighing a host of ideas as the House tax-writing committee begins revising a tax bill this week, though he expects the broad outlines to remain the same.

Ryan, a Republican, told Fox News Sunday that House tax writers are considering President Donald Trumps call to include in the tax package a repeal of an Affordable Care Act provision that mandates individuals buy insurance coverage.

We have an active conversation with our members and a whole host of ideas on things to add to this bill. And thats one of the things thats being discussed, Ryan said.

The tax-writing House Ways and Means Committee will on Monday begin considering revisions to the tax bill released last week, which would constitute the biggest overhaul of the U.S. tax system since the 1980s.

Ryan said he believes the House is still on track to vote on a revised tax bill before the U.S. Thanksgiving holiday on Nov. 23.

The Senate is developing its own version of the legislation, but Ryan said he expected it to be similar enough that the two chambers could resolve their differences and pass a tax bill before years end.

We had basically decided the big ticket items: the big 20 percent corporate ratea 25 percent rate for pass-through businesses, the middle class tax cut, Ryan said.

All of those things are things we agree on, and so these bills are written within those details.So thats why those differences will be fairly narrow, he added.

If it passes, the tax overhaul will be the first major legislative achievement since Republicans took control of the White House and Congress in January - and a rebound from their failure to overturn the Affordable Care Act, or Obamacare.



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