The House GOP Budget May Open the Door for More Tax Cuts

Tighe, Kress & Orr.

By: Tighe, Kress & Orr.

House Republicans’ newly unveiled budget plan would allow lawmakers to use the reconciliation process to implement a second tax cut (or “Phase 2”) of the Tax Cuts and Jobs Act (TCJA). Under reconciliation, the bill would require only a simple Senate majority for passage instead of the usual 60-vote threshold. The House Ways and Means chairman indicated that a possible tax bill would mostly be directed at making permanent the TCJA’s individual tax rates and possibly other provisions set to expire in 2025.

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