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Ryan expects tax plan to pass House by Thanksgiving, Senate by Dec. 31

Oct. 24 (UPI) — House Speaker Paul Ryan said Tuesday he’s counting on the lower chamber to pass the Republican tax reform plan by Thanksgiving, and the Senate by the end of the year.

The House, though, must first pass the Senate-approved budget, during a vote set for Thursday.

“Adopting this budget is another sign of real momentum for tax reform — of getting the train on the tracks and getting this moving so we can deliver real tax relief and a healthier, stronger economy for the American people,” Ryan said at a news conference Tuesday.

Last week, the Senate passed the budget resolution, 51-49. The only Republican to vote against was Sen. Rand Paul of Kentucky. No Democrat supported the measure.

The House’s resolution calls for tax cuts that don’t add to the deficit.

“We are on the verge of doing something that is going to make a big difference for so many families,” Ryan said. “And that is why we’re excited about getting this budget moving this week and moving on to tax reform.”

Trump has endorsed Senate Republicans’ budget legislation, which would cap a 10-year deficit hike at $1.5 trillion. The plan projects $2.5 trillion in revenue next year with a deficit of $641 billion.

Senators will vote on the legislation via reconciliation, which allows them to make changes to the House plan with a simple majority rather than the 60 votes needed to cut off a filibuster. The House only needs a simple majority.

“I want to thank President Trump for his leadership,” Ryan added Tuesday. “I want to thank him for expressing to our members just how urgent this is for the country and how needed this is for workers. As he said, we are on the verge of doing something very historic.”

Ryan noted that an ongoing feud between the president and Sen. Bob Corker, R-Tenn., will not harm the tax bill’s chances.

Trump again criticized Corker Tuesday for criticism of a $1.5 trillion tax cut. The senator has said he won’t vote for any tax bill that would increase the federal debt.

Trump posted on Twitter: “Isn’t it sad that lightweight Senator Bob Corker, who couldn’t get re-elected in the Great State of Tennessee, will now fight Tax Cuts plus!

“I think at the end of the day, when his term is over, I think the debasing of our nation, the constant non-truth telling, just the name-calling,” Corker told CNN. ” I think the debasement of our nation will be what he’ll be remembered most for, and that’s regretful.”

Republicans and Senate Democrats met with Trump for lunch Tuesday at the Capitol.

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