U.S. Senate not likely to look at taxes this summer

The Morning Consult, a Washington, D.C. multimedia company, is reporting on its website that Senate Majority Leader Mitch McConnell doesn’t believe the Senate will take up tax reform this summer citing that “We’re certainly not going to be able to be doing big, comprehensive tax reform with this president.” He went on to say that, ”The president is not interested in revenue neutrality, and he’s not interested in treating all taxpayers the same, so I don’t think we’ll get there on comprehensive.”

On the other hand, the White House spokeswoman Jennifer Friedman told the Morning Consult that the administration still wants a deal on tax reform. She is quoted in the article as saying, “We are encouraged that Congress is considering options for reforming our business tax code and making significant investments in our nation’s transportation infrastructure. We are hopeful that we can work with Congress to find common ground on these issues.”

The only piece of the article that concerned financial institutions is the possibility of discussion on the highway bill. McConnell said it might be the legislative vehicle for the reauthorization of the Export-Import Bank. He told Senate Democrats that he would stick to his plan to them to hold a vote to reauthorize the bank before its June 30 expiration as part of the debate over trade promotion authority. McConnell opposes reauthorizing the bank but said he would allow a vote.

Read the full story on the Morning Consult’s website.