Why the Budget matters?

The White House’s push for tax cuts made crucial progress on Tuesday as Senate Republicans rallied behind a budget proposal the party needs to pass to keep alive its hopes of enacting sharp reductions in tax rates later this year.

Senate Republican leaders earned a series of much-needed victories Tuesday, first with the return of ailing Sen. Thad Cochran (R - Miss.) and later with an announcement from Sen. John McCain (R - Ariz.) that he would back the budget resolution in order to help passage of tax cuts. Senate Republicans are now hopeful they can agree on a final budget resolution later this week, which is a key procedural step to help them pass a tax cut plan later in the year without relying on support from any Democrats.

“If we get the Republicans we need, which is virtually every single one of them...we will get that largest tax cut in the history of our country,” President Trump said Tuesday in a speech to the Heritage Foundation. “And you will see things happen like have never happened before. We will have employment. We will have jobs. We will have companies moving back into our country.”


Even with the breakthroughs on Tuesday, many hurdles remain. Republicans still haven’t written a tax cut plan, they haven’t identified trillions of dollars in tax deductions they plan to eliminate, and they haven’t sorted out how to ensure that the majority of any tax cuts don’t benefit primarily the wealthy. Still, none of those things would have mattered if they failed to pass a budget resolution.

Read more at The Washington Post