4. Senate starts committee markup on tax reform. While House GOP leaders search for votes, across Capitol Hill, the Senate Finance Committee will begin work on that chamber's version of tax reform on Monday afternoon. The plan put out on Thursday by Senate Republicans differs in some key respects to the House bill, delaying a cut in corporate taxes until 2019, keeping seven different tax brackets (there are four in the House bill), it maintains the deduction for medical expenses, does not eliminate the estate tax, and completely repeals the state and local tax deduction. Expect this committee markup to be much like the one in the House, where Republicans stave off most - if not all - Democratic amendments. Stay tuned.
5. Speaking of wonky reviews of tax reform plans. One thing released over the weekend was the review of the distributional impacts of the Senate tax reform bill as currently proposed. It was fun to watch experts this weekend take the exact same data, and come to completely different conclusions on who is the winner. (Hint - either the middle class is the winner, or the middle class is the loser, and the rich are the winners.) Here's your link to some Legislative Nerd Action from the Joint Committee on Taxation.
6. What's the timeline on tax reform? Here's what to expect in coming days:
+ Senate Finance Committee starts markup on Monday
+ House Rules Committee meets on Wednesday
+ House debate on tax reform could begin on Thursday
+ GOP would like a vote on Thursday in the House.
+ Senate Finance should approve tax reform bill by Thursday.
+ House and Senate would go home for a Thanksgiving break, return the week of November 27.
+ The goal would be Senate approval of a tax reform bill in early December.
+ Next would be a House-Senate conference to iron out the differences.
+ Then a final vote before Christmas.
Ambitious? Yes. Could it go off the rails? Sure. Could it get done by Christmas? Yes. Stay tuned.