Senate Finance Republicans Could Slow Walk Tax Bill Until After Election

Semafor reports that Washington lobbyists are “getting anxious” about the USD$78 billion Wyden-Smith bipartisan tax bill, which reinstates some child tax credits and business tax breaks. Summary and review of the bill here.

• According to Semafor, “Senate Finance Republicans led by ranking member Mike Crapo, [R-ID] continue demanding numerous changes and a formal markup of the tax bill, even though it passed the House last month by a wide bipartisan margin and enjoys wide support from the business community.”
• A GOP lobbyist told Semafor: “It’s kind of odd to me because [Senate Finance Republicans] are acting like they’re in the majority when they’re not. I think we’re worried their strategy is to delay, delay, delay until it’s killed. So I think the way you undo that is you start having other [Republican] members come out in support.”
• A congressional aide closely involved in the current tax negotiations told Politico: “[Crapo] thinks he’s going to be chair and he thinks he can do a better job,” raising concerns that Crapo may slow-walk the bill until after the general election when Republicans may have control of the Senate and can undo some of the child tax credit provisions in the bill.
• Ways and Means Committee Chair Jason Smith (R-MO), co-sponsor of the bill, said he, “had to move forward” with the bill without Crapo because “time is of the essence to get this done.” Indicating that Senate Republican opposition could not be overcome during preliminary negotiations.