House will vote on tax reform bill on Thursday

House Republicans will vote on their tax reform bill on Thursday, aiming to take the most concrete step yet toward overhauling the American tax system.

House Majority Leader Kevin McCarthy, R-Calif., confirmed the plan to reporters on Tuesday. GOP leaders believe they can pass the bill This specific week, despite lingering resistance coming from some Republicans.

President Donald Trump plans to go to Capitol Hill on Thursday to make the case for tax cuts before the vote.

The GOP aims to pass a plan to chop tax rates for businesses along with individuals by the end of the year to fulfill a key campaign promise. Lawmakers argue that will changing the tax code will spark economic growth along with boost job creation along with wages.

This specific week, the Senate is actually marking up, or debating along with amending, its edition. The chamber wants to approve the bill after Thanksgiving.

House Speaker Paul Ryan on Tuesday described the current plans as a “work in progress.” He said he expects the two chambers to pass separate legislation before going to a conference committee to craft a joint plan.

In an interview with CNBC on Tuesday, McCarthy contended that will the House along with Senate can quickly reconcile the differences along with get a final bill to Trump’s desk by the end of the year.

“I do not think This specific will take long until we come back with that will final edition,” the California Republican said.

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