GOP planning to release tax framework next month: reports

GOP planning to release tax framework next month: reports
© Getty Images

The White House and congressional GOP leaders are planning to release a tax reform framework document in September, according to multiple news reports.

The document would not be released alongside legislation, but it would outline areas where the White House and congressional Republicans have common ground and may also describe suggestions from Democrats, according to a Reuters report.

ADVERTISEMENT

The document would provide more details than the five-paragraph tax statement that key players known as the "Big Six" released late last month, according to reports from both Reuters and Bloomberg.

The Reuters report, which cited three sources familiar with the matter, said the framework document would be three to five pages, while the Bloomberg report, which cited a White House official, said a final length hasn't been determined.

A White House spokeswoman declined to comment to The Hill on internal deliberations.

Republicans have made tax-reform legislation one of their top priorities and want to lower rates for individuals and businesses while eliminating tax breaks. But the timing for introducing legislation or consideration by Congress is not set.

The "Big Six" — House Speaker Paul RyanPaul Davis RyanNo time for the timid: The dual threats of progressives and Trump Juan Williams: Pelosi shows her power Cheney takes shot at Trump: 'I like Republican presidents who win re-election' MORE (R-Wis.), Senate Republican Majority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellCongress averts shutdown after vaccine mandate fight House sets up Senate shutdown showdown Biden says he doesn't believe a government shutdown will happen MORE (R-Ky.), Treasury Secretary Steven MnuchinSteven MnuchinThe Hill's Morning Report - Presented by Facebook - Biden to tackle omicron risks with new travel rules Mnuchin and McConnell discuss debt limit during brief meeting Major Russian hacking group linked to ransomware attack on Sinclair: report MORE, White House economic adviser Gary Cohn, House Ways and Means Committee Chairman Kevin BradyKevin Patrick BradyEconomic growth rate slows to 2 percent as delta derails recovery Democratic retirements could make a tough midterm year even worse Yellen confident of minimum global corporate tax passage in Congress MORE (R-Texas) and Senate Finance Committee Chairman Orrin HatchOrrin Grant HatchLobbying world Congress, stop holding 'Dreamers' hostage Drug prices are declining amid inflation fears MORE (R-Utah) — said they expected the tax-writing committees to produce legislation that the panels would likely consider in the fall.

White House Legislative Affairs Director Marc Short said last week that he expected the House would vote on a bill in October and the Senate would vote on a bill in November.

But McConnell said earlier this week that he doesn't want to set an artificial deadline for when tax-reform legislation will be enacted.