US House Will Pass Budget Then Move Tax Reform Forward
The US House of Representatives will pass its budget this week and that will move tax reform legislation forward, House Majority Leader Kevin McCarthy said Wednesday.
“A vote for the budget is a vote to move tax reform forward,” the California Republican said in a TV interview.
“What’s so important here to realize that the House is taking the Senate budget. The Senate made some changes in there for the House. That speeds up tax reform by more than two weeks.”
That will mean tax reform will be done this year, and will help American taxpayers keep more of their own money.
The most important thing, though, is that the reform measures are done right.
“This is something we haven’t been working on just a few months, but for years,” McCarthy said. “We’ve been so far behind on our tax code it has hurt American businesses around the world and especially small businesses. What is happening is Ways and Means is preparing to unveil the bill and when they do we’ll start the process. It will take them time to mark the bill up in committee and then it will come to the floor.”
Tuesday, the House on Tuesday passed a package of financial sanctions against NKorea, naming the bill for Otto Warmbier, the hostage who died after being returned to the United States.
“[He was] murdered simply because he was an American,” Mr. McCarthy said. “We have to make sure these regimes are put into place, that their nuclear weapons cannot continue to build to send to America. Today we’ll take up Iran…they’re funding terrorism, giving the money to Hezbollah to kill individuals and fund terrorism around the world. We’re putting an end to that. ”