House, Senate Tax Plans Face Reconciliation Battle

The video discusses the significant differences between the Senate and House on tax reform, focusing on corporate tax cuts and top tax rates. The Senate proposes delaying the corporate tax cut to 2019, while the House and White House support a 2018 implementation. There are also disagreements on the top tax rate and individual tax brackets. Both plans face criticism for potentially increasing the deficit by $1.5 trillion over ten years, with concerns about economic growth assumptions. The video highlights the challenges in reconciling these differences and passing the reform.

What is the main disagreement between the Senate and the House regarding the corporate tax cut?

• The amount of the tax cut

• The timeline for implementation

• The sectors affected by the tax cut

• The method of calculating the tax cut

Which year does the Senate propose to delay the corporate tax cut to?

• 2020

• 2018

• 2017

• 2019

How many individual income tax brackets does the House propose?

• Three

• Four

• Five

• Seven

What is the estimated amount of red ink in the tax plans over the first 10 years?

• Two and a half trillion dollars

• Two trillion dollars

• One and a half trillion dollars

• One trillion dollars

Who among the following is likely to oppose the tax plans due to deficit concerns?

• Progressive Democrats

• Liberal Republicans

• Moderate Democrats

• Libertarian Independents