The House’s nearly $4 trillion tax package is set for a makeover in the Senate starting this week when lawmakers return to Washington. It’s not clear yet how extensive the changes will be, but lawmakers and interest groups see plenty of opportunities for tweaks to suit their needs.
Senate Republicans have a more permissive tax allowance under the budget resolution that technically could allow them to write a tax bill that costs over $5 trillion. But the additional wiggle room is hardly a blank check, as whatever the Senate passes will get sent back to the other chamber.
House fiscal hawks have made clear they won’t tolerate a bill that increases tax cuts beyond the current level — a little over $3.9 trillion over 10 years by the most recent estimate — without commensurate spending cuts.
