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Speaker Johnson Endorses Tax Bill, Shortly To Deliver First Floor Speech

US

House Speaker Mike Johnson (R-LA) has endorsed the USD$80b bipartisan tax deal which is expected to come for a vote in the House of Representatives today. Momentarily, Johnson will deliver his first speech on the House floor since being elected speaker. Livestream here.

  • A final vote on the legislation is expected around 20:00 ET 01:00 GMT.
  • The bill looks set to deliver a legislative win for Johnson ahead of complex FY2024 budget negotiations. The measures in the bill are broadly popular with both parties and Johnson appears to have navigated opposition from 'blue-state' moderates over the absence of State and Local Tax (SALT) exemptions and conservatives over the extension of Child Tax Credits.
  • More analysis in today's edition of the MNI US Daily Brief.
Figure 1: House Speaker Mike Johnson Statement on Bipartisan Tax BillImageSource: Office of the Speaker of the House of Representatives

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