With a vote scheduled for later this week on President Trump’s tax agenda and the debt ceiling, Senate Republicans appear to be quickly closing philosophical differences and inching closer to joint chamber negotiations on identical budget resolutions.

As detailed in the attached article, the Senate’s blueprint plan increases the debt ceiling to $5 trillion dollars and extends $4 trillion of tax cuts as compared to the House’s $4 trillion and $4.5 trillion, respectively. 

Several key but controversial points still remain unaddressed, but the likelihood that a tax bill is presented to the President for signature within the next few months is increasing.

Senate Republicans unveiled a budget blueprint designed to fast-track a renewal of President Donald Trump’s tax cuts and an increase to the nation’s borrowing limit, ahead of a planned vote on the resolution later this week. The Senate plan will allow for a $4 trillion extension of Trump’s tax cuts and an additional $1.5 trillion in further levy reductions. The House plan called for $4.5 trillion in total cuts. The draft is a sign that divisions within the Senate GOP over the size and scope of spending cuts to offset tax reductions are closer to being resolved.

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