Latest version of House tax bill meets budget requirements
The House tax bill meets budget requirements, according to JCT. Photo: J. Scott Applewhite/AP
The latest version of the House tax bill, passed by the Ways and Means Committee this afternoon, meets Senate deficit requirements, according to a Joint Committee on Taxation report provided by a committee aide. The bill adds about $1.457 trillion to the deficit over the next decade, just shy of the $1.5 trillion limit.
What we're watching: How the Senate will pay for its version of the tax bill, and then which revenue raisers make it into a bill that can ultimately pass both chambers.