The Senate vote on the budget and, possibly, opens the way to tax reform

The Senate and House of representatives should agree on the version of the budget for the 2018 fiscal year

The efforts of the President of the United States Donald trump for the reform of the tax code on Thursday came a turning point: Senate Republicans are preparing to adopt a legislative initiative on the budget, which will help them to approve the bill for taxes without the support of the Democrats.

The Senate and House of representatives must agree on the budget for the 2018 fiscal year, so the Republicans were able to achieve their goals and make the bill for taxes, and then send it for signature to the Trump before the end of this year.

Resolution on the budget includes a legislative instrument that will allow the Republicans holding 52 of the 100 seats in the Senate to pass the bill on the budget by a simple majority of votes. Otherwise, this will require 60 votes, which likely will fail to score.

Although Republican Senator Rand Paul, known for his hard position in the fiscal issues that have threatened to vote against the resolution on the budget, the Republicans in the Senate, apparently typed at least 50 votes in its favor, and in the case of equal division of votes, the deciding vote will be for Vice-President Mike Pence.

“We assess the current situation positively, – said a prominent Republican Senator John Thune. The attitude is very resolute.”

After failing to repeal Obamacare for the Republicans particularly acute issue of tax reform, since budget resolutions, which will allow as a result of changes in tax legislation to increase the Federal deficit amounting to 1.5 trillion dollars over the next ten years in connection with the reduction of taxes.

“Republicans today are going to make an important decision on the budget, the first step to large-scale reductions in taxes. I think we have enough votes, but who knows?” – trump wrote on Twitter on Thursday morning.

If the budget resolution is adopted, it will be necessary to bring it into line with the version of the house of representatives that is substantially different and provides a solution for taxes not affecting net income.

In the House of representatives believe the talks on a single resolution can take up to two weeks, which will set the stage for presentation of bill for taxes in the House of representatives by the beginning of November.