Tax Reform

J. Scott Applewhite / Associated Press

The GOP's tax overhaul bill passed the U.S. House on Thursday, with Ohio lawmakers falling along party lines for the vote. Republican Reps. Pat Tiberi and Steve Stivers voted for the bill and Democratic Rep. Joyce Beatty voted against.

The House has narrowly approved a $1.4 trillion tax overhaul, clearing the first major hurdle in Republican attempts to cut taxes and rewrite the tax code.

The vote was almost along party lines, with no Democrats voting in support of the bill and some GOP defections over provisions in the measure that would eliminate important tax deductions taken by constituents in some high tax states.

Updated at 4:58 p.m. ET

Republicans are sprinting to push their tax plan through Congress by the end of the year, and with that quick timeline comes a breakneck news cycle. The Senate tax overhaul plan underwent some big changes overnight, with GOP members in that house confident they could get the bill passed. But with a GOP senator now saying he opposes the bill and several others uncommitted, it could have a tougher time passing.

J. Scott Applewhite / Associated Press

Republican Sen. Rob Portman said he supports making changes to the Affordable Care Act through the tax bill in the works in Congress.

Stephen Jaffe/IMF / Flickr

U.S. Treasury Secretary Steven Mnuchin will speak Tuesday afternoon in Columbus about the Trump administration's tax reform plan.

Ohio U.S. Sentators Rob Portman (left) and Sherrod Brown.
Ideastream

Republicans in the U.S. Senate have rolled out their tax reform plan to join what the Trump Administration and the U.S. House have offered. Ohio's two Senators plan to be key players in the process.

Updated at 3:10 p.m. ET

House Republicans unveiled a draft tax bill on Thursday, calling for deep cuts in both individual and corporate tax rates.

"With this bill, we will grow our economy by delivering more jobs, fairer taxes, and bigger paychecks to Americans of all walks of life," said Rep. Kevin Brady, R-Texas, chairman of the House Ways and Means Committee.

J. Scott Applewhite / Associated Press

Sen. Rob Portman says he believes the GOP tax plan will encourage growth, stimulate wages and would at least not add to the deficit. But, there’s one part of the package he’s fighting.

House Republicans announced late Tuesday that they would delay by one day the release of their long-awaited tax cut bill that GOP leaders have promised will be the most extensive overhaul of the tax code in a generation, as members clashed over curtailing popular tax breaks to pay for trillions of dollars in tax cuts for individuals and corporations.

Tax form
Ken Teegardin / Flickr Creative Commons

A panel of lawmakers was asked to look into how the state could transition to a flat tax rate. But they found that the state needs to address a $7 billion question mark first.

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