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Today on the Hill: House, Senate Reach Landmarks in Tax Reform Push Ahead of Thanksgiving Recess

Washington will have a week to catch its breath after a breakneck news cycle closed yesterday with the House passing its version of tax reform, and the Senate Finance Committee finishing its markup of their tax proposal. The House passage was by a 227 to 205 margin with 13 Republican defections, featuring lawmakers almost exclusively from high-tax states that will be disproportionately hit by the elimination of the state and local tax deduction (SALT). Passage on the House floor is the last immediate step for lawmakers in the lower chamber, who will now wait on the Senate to attempt to pass their own tax reform package.

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The Week in Review A big political week both inside and out of Washington saw victories for both parties as Democrats notched electoral wins and Republicans moved a step closer to passing tax reform legislation. On Tuesday, voters headed to the polls in several states for a series of off-year elections. In the most high-profile race, Ralph Northam defeated Ed Gillespie for the Virginia governorship by a nine-point margin, four points more than Hillary Clinton’s victory in the state last year. That fact has some political analysts viewing the results as an early indicator for next year’s midterm elections, particularly as exit polls suggest that voters viewed the Virginia and New Jersey races as a referendum on President Trump.