sjrcpa
Level 15

@BobKamman No.

Excerpt from today's Tax Notes Today:

Senate taxwriters seeking to introduce changes to the tax deal through a markup are grappling with the timing for the bill as the opportunity to pass it before the filing season kickoff has come and gone.

Senate Finance Committee Republicans, led by ranking member Mike Crapo, R-Idaho, are seeking to change the details of a tax deal that has received resounding support in the House Ways and Means Committee. The desire for a chance to amend the bill was echoed by one Democratic taxwriter who said he would like to see the bill marked up but admits that isn’t realistic.

While getting the bill done in both chambers by the start of filing season on January 29 has become a fantasy, completing the legislation soon after is becoming a herculean task as well.

The Senate has a scheduled two-week recess starting February 12, leaving it only a week to pass the tax deal should the House get it across the full-floor finish line by the end of January. Adding a markup with changes before a full Senate vote and then sending the new bill back to the House would stretch the timeline even further.


The more I know the more I don’t know.