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GOP's dueling tax plans try to pass a key red ink test

Senate GOP tax plan still grappling with adding a repeal of the ACA individual mandate, preserving the estate tax, taxing NQDC plans for high earning workers, and repealing state and local tax deductions.

By Sahil Kapur | Updated on November 10, 2017
Republicans still considering repeal of the ACA individual mandate, taxing NQDC plans for high earning workers. (Photo: Shutterstock)

(Bloomberg) – GOP tax writers in the House and Senate scoured the U.S. tax code Thursday and shook the couch cushions for loose change, as one member put it, in an all-day struggle to find ways to pay for the deep tax cuts their leaders and President Donald Trump have promised.

By day’s end, the House Ways and Means Committee had hammered together a bill and sent it toward the House floor for a vote promised next week, while the Senate Finance Committee revealed a proposal it intends to mark up on Monday.

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