Sen. Mike Rounds (R-S.D.) said Wednesday there could be an opportunity during the lame duck session of the current Congress to negotiate a deal on taxes ahead of expirations in the code scheduled for next year.
“After the election, you’ll have one opportunity to find out if there is enough energy in the Congress to say, ‘OK, we know what’s going to happen after the first of the year.’ Based on that, both sides will look at it and say, ‘In which way do we negotiate our best deal? Can we do it before the end of the year? Or do we wait until next year and do it?” Rounds said.
If either Democrats or Republicans sweep both the Congress and the White House in November, senators told The Hill, the likelihood is that tax changes will be passed through the reconciliation process, affording the dominant party more power over the tax code.
But if Congress is........