Friends of Manufacturing

The Finance 202: House Republicans scramble to pave way for tax overhaul


There will be no cruise control on the road to a tax overhaul. That much should be clear by now, but it was in fresh evidence Wednesday, as House Republican leaders scrambled to shore up support for a budget they hope to pass today. 

The spending blueprint sets a critical precondition for the tax package by allowing congressional Republicans to approve a bill without Democratic support. Yet a rebellion by GOP lawmakers from blue states over a proposal to scrap the federal write-off for state and local taxes threatened to derail the budget at the last moment. 

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