Tax reform 'phase 2' rollout could come as early as April 15, conservative GOP Rep. Meadows says

Key Points
  • Republicans could roll out a second part of tax reform as early as April, according to Rep. Mark Meadows.
  • The GOP could push to make individual tax cuts permanent.
  • Republicans are looking for another selling point ahead of November's midterm elections.
Rep. Mark Meadows, R-N.C., chairman of the House Freedom Caucus, walks through Statuary Hall in the Capitol on Wednesday, March 22, 2017.
Bill Clark | CQ Roll Call | Getty Images

Proposals for a second part of the Republican tax-reform plan could be released as early as April 15, Rep. Mark Meadows said Monday.

Possible tweaks unveiled on Tax Day could include making individual tax cuts permanent or indexing capital gains for inflation, said the chairman of the conservative House Freedom Caucus.

"There's been real talks," the Republican from North Carolina added.

A rollout of additional tax changes this year would come as Republicans try to hold off Democratic momentum and keep a majority in the House. The GOP aims to use its tax plan passed in December as a midterm appeal to voters, but it has so far not shown conclusive results as a selling point.

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Earlier in the day, House Ways and Means Committee Chairman Kevin Brady, R-Texas, did not commit to a firm date to release more tax proposals but said he wants to do it this year. He said "we're going to be listening and encouraging lawmakers to bring their ideas forward."

"Permanence is a high priority for us" both for households and pass-through businesses, the top House tax writer said.

Rep. Rodney Davis, R-Ill., has already introduced a bill in the House to make individual cuts permanent. Sen. Ted Cruz, R-Texas, has put forward similar legislation in the Senate.

President Donald Trump has repeatedly said he wants to pass a second part of the tax plan. Incoming National Economic Council Director Larry Kudlow has also supported a phase two, and floated indexing capital gains for inflation.

Democrats, who called the previous law a giveaway to corporations at the expense of workers, would have a hard time not voting to make individual tax reductions permanent. But more cuts would exacerbate concerns about budget deficits.

December's GOP tax cuts are estimated to add $1 trillion or more to federal budget deficits over a decade, even after economic growth is taken into account. Congress followed up the law with an agreement to boost spending past previous budget caps by $300 billion over two years.

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