How times have changed - Reagan vs Trump on major tax reform

As Republicans talk about the need to act on major tax reform, the preparation for that mammoth undertaking pales in comparison to the last effort during the Reagan Administration, an exercise that took time to first develop legislative proposals, and then to wind their way through the House and Senate, as the bill went through several near-death experiences before finally achieving victory in the fall of 1986.

Here are some thoughts on the differences between 1986 and 2017.

So, when you hear Republicans talk about tax reform, focus on one thing for now - when will we see a real bill? Once that happens, then the GOP can talk about actually passing legislation through the House and Senate, and getting that to the President's desk.

Before the first vote can be taken, Republicans also need to figure out if they are doing tax reform via budget reconciliation (no filibuster in the Senate) or by the regular legislative process, where a filibuster is possible.

A lot of work remains to be done - it seems unlikely that will happen before the end of 2017, but stay tuned.

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