BREAKING : Senate Tax Bill Hits Obstacle Over Deficit Concern
Senate Republicans hit a significant stumbling block in their efforts to overhaul the tax code, forcing them to contemplate rewriting key parts of their $1.4 trillion tax-cut plan.
The problem came after Republicans failed to come up with a way to placate a few members concerned about budget deficits. The Joint Committee on Taxation said late Thursday that the Senate plan wouldn't meet the party's goal of paying for itself through stronger economic growth, fueling the concerns of the deficit hawks.
Republicans need 50 votes, with Vice President Mike Pence breaking a possible tie. The party controls 52 seats, and no Democrat is expected to vote for the bill, which means Republicans can afford to lose only two votes.
Impact : Strong
Sentiment : Bad for Dollar
Senate Republicans hit a significant stumbling block in their efforts to overhaul the tax code, forcing them to contemplate rewriting key parts of their $1.4 trillion tax-cut plan.
The problem came after Republicans failed to come up with a way to placate a few members concerned about budget deficits. The Joint Committee on Taxation said late Thursday that the Senate plan wouldn't meet the party's goal of paying for itself through stronger economic growth, fueling the concerns of the deficit hawks.
Republicans need 50 votes, with Vice President Mike Pence breaking a possible tie. The party controls 52 seats, and no Democrat is expected to vote for the bill, which means Republicans can afford to lose only two votes.
Impact : Strong
Sentiment : Bad for Dollar
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Ghinie
HP : 082135656333
PIN : 2B8F7267
Email :kedaitrader@zoho.com
Website : www.kedaitrader.com
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