Midterms Are Over… So What’s Next For Tax Reform?
This bicameral split legislature will likely dictate much of the legislative changes
Midterms have been dominating the national news cycle for months, but, now that the dust has somewhat settled, businesses are left wondering what the results might mean for the future of tax reform. Although some votes are still being tallied, to some degree, the writing is on the wall when it comes to Republican-led tax reform.
While it might not have been exactly the “Blue Wave” for which Democrats were hoping, it appears they did pick up about 39 House seats so far, and it’s possible that number could reach 40 when all is said and done. Regardless of how the contested races go, it’s the most seats they’ve gained in midterms since Watergate.
The GOP maintained control of the Senate, although the exact margin will remain unclear until the results from all the races are finalized. Senate Democrats, however, continue to maintain the ability to employ the legislative filibuster to prevent any bill from coming to a floor vote.
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