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Capitol Report: Tax reform’s scope to be limited by House budget bill

Reuters
House Speaker Paul Ryan speaks with reporters about the forthcoming 2018 budget at the Republican National Committee on Tuesday.

The House budget bill released by Republicans on Tuesday would constrain the ambitions of tax reform, by forcing it to be deficit neutral.

“The biggest thing that stands out is that it requires tax reform to be revenue neutral current to law,” said Ed Lorenzen, senior adviser to the Committee for a Responsible Federal Budget.

As the text introducing the bill says: “The resolution also instructs the Ways & Means Committee to produce deficit-neutral tax-reform legislation that will reduce tax rates and simplify the tax code to boost economic growth.

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