House Majority Leader McCarthy Confident Tax Overhaul Will be Done This Year

House Majority Leader Kevin McCarthy said Monday the Senate passage of the tax bill on schedule proves the overhaul can be done this year.

Senate Republicans narrowly passed their plan early Saturday, moving the GOP and President Donald Trump a set closer cutting rates for businesses and individuals.

“It happened on the timeline we said it would, McCarthy said in an interview with CNBC’s “Squawk Box.”

The Senate and House must now reconcile their versions of the legislation. The House passed its bill last month.

“There are differences in this bill, but there are not that great of differences,” McCarthy said. “We can work and have it done this year.”

“I’d like to do it faster,” McCarthy added.

McCarthy said he credits Trump and Senate GOP leadership for passage. The president “put a lot of time and effort in,” the California Republican said.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza