House Budget Committee to Consider Fiscal 2018 Budget Resolution
July 17 2017 - 10:40AM
Dow Jones News
By Richard Rubin
WASHINGTON -- The House Budget Committee will consider a fiscal
2018 budget resolution Wednesday, marking a crucial but still early
step in Republicans' path to a major tax overhaul.
A budget resolution approved by the House and Senate is
necessary to trigger the so-called reconciliation rules that would
let the GOP pass a subsequent tax bill through the Senate without
Democratic votes. The budget will provide the parameters for the
tax bill.
But Republicans have been divided over the budget itself, with
defense hawks pushing for more spending and conservatives arguing
for spending cuts in other programs. Republicans want the budget to
balance by the end of a decade without raising taxes, a goal that
requires a combination of spending cuts and aggressive economic
growth assumptions.
The committee, in announcing its session Monday morning, didn't
yet release a draft resolution or details about it.
Write to Richard Rubin at richard.rubin@wsj.com
(END) Dow Jones Newswires
July 17, 2017 10:25 ET (14:25 GMT)
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