Taxation~double Taxation

Tax reform is a long-term political challenge, but the House of Representatives is moving slowly toward passing a bill by the end of the year, according to a new analysis.

A new analysis by the Tax Policy Center shows that House leaders are not expected to pass the plan by the time lawmakers return from recess in mid-December.

The analysis, released Thursday, comes as Republicans are under pressure from the White House to move quickly on tax reform, especially after they failed to reach agreement on a sweeping tax overhaul during the last Congress.

The House Ways and Means Committee is expected to hold a hearing on the Tax Cuts and Jobs Act on Monday, the day after the midterm elections.

If the panel passes the bill, it will be sent to the Senate for a vote.

It’s unclear if the Senate would pass a tax overhaul, but Republicans have already made a commitment to vote on tax legislation as soon as the House returns from its recess.

House Speaker Paul Ryan said last week that the chamber is moving to pass a comprehensive tax bill by December 20, but that he believes a bill is unlikely to pass before the end, a statement that was echoed by the Trump administration.

The White House and the GOP-led Senate have been unable to reach an agreement on tax rates and other policy changes after they both failed to pass tax legislation.

The House passed its first tax overhaul in 2021, but it’s unclear how much the GOP plan would have accomplished in the Senate.

Republicans are hoping to win over some Democratic votes with a plan to lower corporate taxes, as well as to increase the child tax credit and reduce the estate tax.

If Republicans fail to pass their tax overhaul by the start of December, they could face backlash from Democratic lawmakers who say the plan would disproportionately benefit the wealthy and corporations.