The U.S. House of Representatives narrowly approved the Senate’s budget resolution on Thursday, clearing the way for both chambers to continue their efforts to enact a $1.5 trillion tax cut that would disproportionately benefit the wealthiest Americans.
Number of the Day
23 - Percentage of Louisiana tax filers who used the state and local tax (SALT) deduction in 2015, with an average deduction of $6,742. Republicans in Congress have proposed eliminating the deduction to partially offset the cost of massive tax cuts, making the tax code more regressive. (Source: Government Finance Officers Association)
Most of the action at the Capitol on Monday occurred behind the scenes, and by the time the day ended, it appeared as though a deal was in place between House and Senate leaders to plug the $304 million mid-year deficit.