Trump Promised Sweeping Economic Changes. Can Republicans Turn Them Into Law?
Republicans are starting to sketch out how to translate President-elect Donald J.Trump’s economic agenda into law, putting plans in place to bypass Democrats and approve multiple bills reshaping the nation’s tax and spending policies along party lines.With total control of Washington, Republicans have the rare — and often fleeting — opportunity to leave a lasting mark on federal policy.
Some in the party are hoping to tee up big legislation for early next year and capitalize on Mr.Trump’s first 100 days.Much of the early planning revolves around the sweeping tax cuts the party passed and Mr.
Trump signed into law in 2017, many of which will expire at the end of next year.Key Republicans are holding meetings about how to maneuver a bill extending the tax cuts through the Senate, while others are consulting economists for ideas to offset their roughly $4 trillion cost.Several questions loom over the Republican effort.
They range from how fast the party should move next year to deeper political disagreements over which tax and spending policies to change.The overall cost of the legislation is a central preoccupation at a time of rising deficits.
And whatever Republicans put together will most likely become a magnet for other issues the party has prioritized, including immigration.Here’s what to expect.A Difficult ProcessMost legislation needs a supermajority of 60 votes to pass the Senate.But for bills focused on taxes and spending, lawmakers can turn to a process called budget reconciliation that requires only a regular majority of 51 votes in the Senate.Reconciliation is a powerful but cumbersome tool.
Its rules prevent lawmakers from passing policy changes unrelated to the budget, and lawmakers are only allowed to use reconciliation a limited number of times per year.Republicans could also raise the debt limit through the process.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for you...