5 potential pitfalls for Republican tax overhaul effort

 · House Republicans on Thursday passed a monumental bill to cut taxes on businesses and individuals, the biggest step yet in the GOP’s once-in-a-generation effort to overhaul the American tax.

19 hours ago · The $1.5 trillion tax bill is the first major overhaul of the tax code in 30 years; it cuts corporate taxes and gives temporary cuts to individual tax brackets that will return to current rates after a few years to help pay for the tax cut. The tax bill slashed corporate taxes from 35 percent to 21 percent.

 · Sen. Lisa Murkowski (R-Alaska) said she would support repealing the Affordable Care Act’s individual insurance mandate, giving a potential boost to the Republican effort to pass a massive tax.

Lisa Murkowski, another swing Republican, also has voiced objections to scotching the individual mandate and pointed to the Alexander-Murray bill as a potential. in terms of lost tax revenue, and.

Even the most cynical and contrarian of House Republicans gave the GOP’s new tax overhaul plans rave reviews, but that party unity isn’t going to last. In fact, it began to dissolve mere hours after they learned details of the 429-page bill. Also

 · And it takes away the GOP’s credibility on the debt and deficit. Well, this tax legislation has a price tag of about $1.5 trillion, and it isn’t fully paid for (even when you factor in assumed economic growth under the most favorable of analyses ).

 · Republican National Committee Chairwoman Ronna McDaniel is overseeing a political ground game effort to drum up support among prospective voters for the tax overhaul package moving through the GOP.

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11 a.m. Republican Congresswoman Kristi Noem says the child tax credit has been expanded for low-income families in an effort to win Sen. says he’s seen the latest version of the $1.5 trillion tax.

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WASHINGTON (AP) – The Latest on the Republican tax overhaul (all times local): 12:05 p.m. A Senate Republican says GOP leaders are working with on a potential revenue "backstop. and personal taxes.

Even the most cynical and contrarian of House Republicans gave the GOP’s new tax overhaul plans rave reviews, but that party unity isn’t going to last. In fact, it began to dissolve mere hours.