To help you understand what is going on in politics our highly experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts (Get a free issue of The Kiplinger Letter or subscribe). You'll get all the latest news first by subscribing, but we will publish many (but not all) of the forecasts a few days afterward online. Here’s the latest…
Congress has undergone a historic change. In short, the executive and legislative branches have, in a sense, merged. President Trump is the true head of Congress, with Republican leaders taking their cues from the White House on most issues, big and small. This is not just unusual, it’s unprecedented.
With that backdrop, unpredictability reigns on Capitol Hill, with GOP leaders suffering from whiplash amid Trump’s frequent changes of mind, forcing them to switch gears at a moment’s notice. That said, lawmakers still have work to do.
Tax cuts and border security
First up is a tax cuts and border security bill that Republicans hope to pass this summer. The bill would extend the 2017 tax cuts that expire at year-end. A hike to the state and local tax (SALT) deduction cap likely will be included, though it’s uncertain how much. The border portion would lift spending for enforcement and deportations. Differences are being hammered out among House Republicans and their Senate colleagues, like possible cuts to Medicaid and other entitlements. Such cost-cutting measures will be politically fraught.
