Senate GOP Tax Bill Hits Speed Bump Over Deficits

Senate Republicans ran into a speed bump Thursday evening in their quest to pass a tax overhaul by the weekend, over concerns that the bill could fall far short of GOP promises of economic growth.

Deficit hawks threatened to abandon the legislation over those concerns, sending leaders back to the drawing board to find ways to scale back the cost of the $1.4 trillion tax plan. The fight over the long-term cost of the tax overhaul could force leaders to scale back plans for permanent corporate rate cuts, greatly reducing the ambition of the tax overhaul.

Progress on the bill ground to a sudden halt on Thursday evening after deficit hawks received word that their back up plan to keep the cost of the legislation under control would violate Senate budget rules.

https://www.npr.org/2017/11/30/567627146/senate-gop-tax-bill-hits-speed-bump-over-deficits