The authors believe that although no legislative language had been released to the public as late as the end of October, it now appears that Republicans may succeed in their promise to pass a tax reform bill by Christmas. Starting on November 2, when House Ways and Means Committee Chair Kevin Brady released the text of his Committee’s draft bill
, the previously slow tax reform process has progressed at a whirlwind pace. On November 16, the House passed that bill, albeit with various changes. The Senate Finance Committee also released a draft bill
, largely similar to the House version, though with some significant differences. With the Senate version currently being considered by the full Senate, and with key votes like John McCain (R-Arizona) deciding to support the bill
, passage seems increasingly likely. While they acknowledge that Republican congressional leaders have successfully navigated some of the procedural hurdles outlined in their previous article
, significantly increasing the likelihood of a successful tax reform push, the authors assert that this outcome is still not a certainty.