Trump's economic chief forecasts approval of tax bill by summer
National Economic Council Director Kevin Hassett indicated that he anticipates "finalizing the president's thoughts on the tax agenda" by next week.
TroibNews 
National Economic Council Director Kevin Hassett indicated on Friday that he anticipates the GOP tax bill will pass through Congress by early summer.
“The hope is that the tax bill will be passed by the summer, early summer and so things are moving very, very quickly,” Hassett shared with reporters at the White House. “We expect probably to finalize the president’s thoughts on the tax agenda, at least first thoughts, opening salvos, by sometime next week.”
Hassett's timeline aligns closely with House Speaker Mike Johnson’s goal to advance President Donald Trump’s policy agenda by Memorial Day. However, this target is ambitious, considering significant differences in perspectives between Senate and House Republicans regarding how to extend trillions in expiring tax cuts from Trump’s first term.
The proposed GOP legislation also seeks to fulfill Trump’s campaign commitments to eliminate taxes on tips, overtime pay, and Social Security benefits, among other tax cuts. These tax provisions are part of the “one big beautiful bill” that Trump envisions, which would also encompass energy, border, and defense policies, along with potential substantial cuts to Medicaid.
Last week, House Republicans approved a budget blueprint for the legislation after the Senate had done the same, before breaking for recess.
Hassett noted that the “Big Six” has been convening regularly to outline the details of Trump’s tax bill. This group includes Hassett, Johnson, Senate Majority Leader John Thune, Treasury Secretary Scott Bessent, Senate Finance Chair Mike Crapo, and House Ways and Means Chair Jason Smith.
Ramin Sohrabi for TROIB News
“The hope is that the tax bill will be passed by the summer, early summer and so things are moving very, very quickly,” Hassett shared with reporters at the White House. “We expect probably to finalize the president’s thoughts on the tax agenda, at least first thoughts, opening salvos, by sometime next week.”
Hassett's timeline aligns closely with House Speaker Mike Johnson’s goal to advance President Donald Trump’s policy agenda by Memorial Day. However, this target is ambitious, considering significant differences in perspectives between Senate and House Republicans regarding how to extend trillions in expiring tax cuts from Trump’s first term.
The proposed GOP legislation also seeks to fulfill Trump’s campaign commitments to eliminate taxes on tips, overtime pay, and Social Security benefits, among other tax cuts. These tax provisions are part of the “one big beautiful bill” that Trump envisions, which would also encompass energy, border, and defense policies, along with potential substantial cuts to Medicaid.
Last week, House Republicans approved a budget blueprint for the legislation after the Senate had done the same, before breaking for recess.
Hassett noted that the “Big Six” has been convening regularly to outline the details of Trump’s tax bill. This group includes Hassett, Johnson, Senate Majority Leader John Thune, Treasury Secretary Scott Bessent, Senate Finance Chair Mike Crapo, and House Ways and Means Chair Jason Smith.
Ramin Sohrabi for TROIB News
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