The House Ways and Means Committee on May 12 released the tax policy portion of the GOP megabill to implement President Donald Trump’s sweeping agenda.
The committee, which deals with taxes and other government revenue sources, is scheduled to meet on May 13 to mark up the bill in what will be a closely-watched hearing amid disagreements on aspects such as the State and Local Tax deduction, or SALT.
The tax cuts, while a cost estimate has not yet been assessed, could be at least $4 trillion—a goal of congressional Republicans. It represents Trump’s signature domestic policy plan, which he says is meant to work alongside his tariff policy to boost the U.S. economy….