House Passes Budget, Officially Begins Tax Reform Effort
Washington — This morning, the House approved the Senate-passed Fiscal Year 2018 Budget Resolution (H. Con. Res. 71), which contains reconciliation instructions for a $1.5 trillion revenue reduction. Heritage Action released the following statement from chief executive officer Michael A. Needham:
“Now the real work begins. With today’s vote, Congressional Republicans have the ability to reform our nation’s stagnant and convoluted tax code without fear of Democrat obstructionism. This once in a generation opportunity to unleash economic growth, create jobs and increase wages cannot be squandered by petty personal differences or special interest pandering.
“Specifically, the GOP framework was right to call for the elimination of the state and local tax deduction. SALT is bad policy, and Congress should not allow low tax states to subsidize reckless, big-government tax-and-spend policies in liberal states. Similarly, the National Association of Realtors, defenders of corporate loopholes and proponents of the death tax should not stand in the way of tax reform that is vital to unleash growth and opportunity in our nation.”