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\n

Incoming Senate Majority Leader John Thune said he\u2019s eyeing a sweeping tax policy package by summer, but conceded it will take some time to reach agreement on changes to the complex code.<\/p>\n

\u201cIt\u2019s going to take a while to put that big package together because there are so many moving parts,\u201d Thune said on \u201cThe Hugh Hewitt Show.\u201d<\/a> <\/p>\n

\u201cMy goal is to have this done by summer. I think that big tax piece is just going to take a while,\u201d he continued.<\/p>\n

But the South Dakota Republican was quick to add: \u201cFailure is not an option as far as tax is concerned.”<\/p>\n

Among the complex issues for the tax bill, according to Thune: what baseline to use, whether to make the cuts permanent and how much of them should be offset.<\/p>\n

While those negotiations on complex tax policy continue, Thune said he\u2019s eyeing a \u201cbig early win\u201d for President-elect Donald Trump with a party-line push on border security, military and energy provisions.<\/p>\n

Thune indicated he did not favor inserting consensus tax provisions in the first package.<\/p>\n

\u201cI think they\u2019re all going to have to ride together,\u201d he said of tax policy, noting the complexity of the nation\u2019s code. \u201cDon\u2019t rush them, make sure we get it right.\u201d<\/p>\n

Both bills would rely on a party-line process, known in official Washington parlance as reconciliation, to allow them to pass with a simple majority of Republicans. <\/p>\n

Thune indicated the second package would be a natural spot to implement government savings recommendations developed by Elon Musk and Vivek Ramaswamy through their so-called Department of Government Efficiency.<\/p>\n

Thune\u2019s two-track approach is at odds with that favored by House Ways and Means Chair Jason Smith (R-Mo.)<\/a>, who favors a single reconciliation package.<\/p>\n

\u201cIf we don\u2019t hit out the gates running, we\u2019re going to be in trouble,\u201d Smith said Tuesday on Fox Business. \u201cHouse Republicans are ready to pass the president\u2019s economic package. We\u2019ve been working on this since April with the hopes that we\u2019d have a unified Republican government.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Incoming Senate Majority Leader John Thune said he\u2019s eyeing a sweeping tax policy package by summer, but conceded it will take some time to reach agreement on changes to the complex code. \u201cIt\u2019s going to take a while to put that big package together because there are so many moving parts,\u201d Thune said on \u201cThe […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3531","post","type-post","status-publish","format-standard","hentry","category-congress"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/posts\/3531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/comments?post=3531"}],"version-history":[{"count":0,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/posts\/3531\/revisions"}],"wp:attachment":[{"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/media?parent=3531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/categories?post=3531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/tags?post=3531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}