Senate Unveils Price Range Blueprint Permitting $1.Five Trillion In Tax Cuts

The budget resolution instructs the Senate Finance Committee and the House Ways and Means Committee to develop the tax legislation by Nov. 13.
The budget resolution sets spending and revenue levels, amounting to a fiscal road map for the coming years.
The House Budget Committee approved its own budget resolution in July, and although it had been stalled in that chamber for some time, the full House is expected to vote on the measure next week.
“This budget resolution puts our nation on a path to balance by restraining federal spending, reducing tax burdens and boosting economic growth,” Mr. Enzi said.
Last week, two Republicans on the Senate Budget Committee resolved a major looming issue in that chamber by coming to an agreement on the size of the tax cuts that would be permitted under the parliamentary language included in the budget blueprint.

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