What’s in the House Tax Bill?

The House Ways and Means Committee advanced its sweeping tax package Wednesday morning after a contentious marathon markup – a critical milestone for the centerpiece of President Donald Trump’s legislative agenda but still an early step toward its overall passage.

The package, replete with President Donald Trump’s top tax priorities like tax cuts and hikes on GOP targets like Ivy League universities, passed on a party-line vote, 26-19.

It will now advance to the chamber’s Budget Committee, where lawmakers will combine it with spending legislation from other committees ahead of a floor vote. A full House vote could come as early as next week, but the Senate is expected to significantly change it.

The early morning win for Republicans to close out an overnight hearing came as two other critical committees – the Agriculture Committee and the Energy and Commerce Committee – remain bogged down in markups necessary to advance their portions of the megabill that will see the rest of Trump’s domestic agenda unlocked.

But a lack of consensus on the state and local tax deduction and other areas, like new work requirements for Medicaid, are making the self-imposed deadline of Memorial Day weekend to pass the whole package appear unfeasible.