tax overhaul

Thune Optimistic Tax Reform Will Spur Economy Forward

Nov 14, 2017
listen.sdpb.org

South Dakota US Senator John Thune hopes the Senate Republican tax reform proposal will make it out of the finance committee by the end of this week.

Republicans in both the US House and Senate are leading the charge in overhauling the country’s tax code. They say it’s the largest overhaul in 30 years.

Others aren’t convinced it will help the economy.

Congressional Republicans maintain that growth in the economy brought about as a result of these tax cuts will make up for any lost revenue.

U.S. Senator Mike Rounds is one of 24 cosponsors of a bill designed to stabilize the Affordable Care Act marketplaces.

The bill is known as the Alexander/Murray legislation. The current proposal reinstates Cost-Sharing Reduction payments to insurance companies for the next two years. President Trump announced last week that the Administration would stop making the monthly installments.

Rounds says Congress has to stabilize Obamacare, while transitioning away from it.

South Dakota’s lone US House Representative says the Ways and Means committee plans to release its blueprint of federal tax reform in several weeks.
 
Congresswoman Kristi Noem says the finer details are still being debated.
 
A federal tax overhaul is second on a list of reforms the Republican led House, Senate and Whitehouse want to accomplish during their majority held in all three branches… that, along with healthcare reform.