Thread by @kpomerleau

This tweet now in blog form:

"Expect tax legislation even with a Republican Senate"

aei.org/economics/expe…

https://twitter.com/kpomerleau/status/1324035870979166210

I think the conventional wisdom is right: Much of Biden's tax plan is not going anywhere with a Republican Senate.

I don't see Senate Rs signing onto a package that scales back their major legislative achievement.

Instead I think three scenarios are possible, ranked by how likely I think they are:

1) Lawmakers turn upcoming TCJA change into extenders.
2) Lawmakers deal with upcoming TCJA changes in a COVID relief package.
3) Lawmakers pass a PATH Act 2022.

Regardless of what happens: my condolences, deficit hawks.