House and Senate Republicans are pursuing slightly different strategies on the tax cuts included in their sweeping tax and spending reduction bill.
The two chambers remain divided over several provisions—most notably, the size of the deduction for state and local taxes. Other points of disagreement include whether individuals should be allowed to use health savings accounts for gym memberships, and whether owners of electric and hybrid vehicles should face an annual fee.
The House passed its version of the bill just before Memorial Day, and the Senate is now preparing to vote on its own version.
Although both proposals align on the broader tax policies, resolving these differences will be key to how quickly lawmakers can finalize the legislation. Former President Donald Trump is urging Congress to send the bill to his desk by July 4th.
