House Republicans Embrace Tax Overhaul in Annual Budget Resolution

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March 17 — House Republicans will use their annual spending blueprint for the next fiscal year to try to breathe new life into a tax overhaul.

The House Republican budget resolution for the fiscal year beginning Oct. 1 calls for lower corporate and individual tax rates and repeal of the alternative minimum tax (AMT). It also includes so-called reconciliation instructions to the Ways and Means Committee to identify $1 billion worth of deficit-cutting moves over the next decade.

The House Budget Committee is scheduled to take up the measure March 18.