House Tax Reform Markup Runs Into Snag

The transcript discusses the ongoing challenges faced by Republicans in the Ways and Means Committee as they attempt to address a significant budget deficit. Amendments to the tax bill have increased the deficit by $150 billion, leaving them $74 billion over the limit. The removal of a 20% excise tax on transfers between foreign subsidiaries and U.S. companies has further complicated their efforts. Consideration of dropping the individual mandate tax from Obamacare is met with resistance due to its controversial nature and recent election results. The committee is tasked with finding a solution to meet deficit requirements.

What was the public's reaction to Congress's actions regarding Obamacare?

• They supported it

• They were indifferent

• They did not like it

• They were confused

What is the main task for the Ways and Means Committee as they complete their markup?

• To increase taxes

• To come up with $74 billion

• To reduce spending

• To eliminate the deficit