House Ways and Means Chair on Trump Tax Bill

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Any Senate tax bill that doesn’t exempt taxes on tips and overtime would be “dead on arrival” in the House, Ways and Means Chair Jason Smith (R-Mo.) said today on Bloomberg.

GOP Sens. including Thom Tillis (N.C.) and Lindsey Graham (S.C.) expressed skepticism about the cost and economic wisdom of including the two provisions, which were key campaign trail promises made by President Donald Trump. Senators instead called for funds to be used to make temporary business tax breaks permanent.

Such a change would a “no go” for House Republicans, Smith said. Sen. Josh Hawley (R-Mo.) said Trump told him this morning that tax exempt tips and overtime, as well as a tax cut for the elderly, are the most important provisions in the bill.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Chairman of the House Ways and Means Committee Jason Smith.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.
• Bloomberg Intelligence Senior US Policy Analyst Nathan Dean.

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