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Trump will have his first opportunity to push a tax cut on Tuesday, when the House of Representatives votes on a package of tax cuts.
If the bill passes the Senate, the White House will likely try to persuade President Donald Trump to sign it, or else use the veto pen to kill the bill.
Here’s a primer on the bill and what it means for the GOP and Trump.1.
Will it pass the Senate?
It’s hard to say, given the Senate is currently debating a package that includes only the tax cuts, not the other major legislation that Trump campaigned on, the health care bill.
But Trump has said he will veto the bill if it does not include the tax relief.
House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell have been pushing hard for a tax bill that is similar to the House bill, with more modest changes, which the Senate would then approve.
If it’s not approved by the Senate before the end of the month, then the Senate could override the veto.
That would leave the House, which holds the power to override a president’s veto, to decide what to do.
Trump has made it clear he wants the tax bill passed, and it’s likely that Ryan and McConnell will be able to secure the votes needed to override the president’s will.
The Senate is not set to take up the bill until Monday, but Senate Majority Whip John Cornyn said Wednesday that he expects to be able vote on the tax package in the coming days.
That means that the tax cut could be signed by the president on Tuesday.2.
Will Trump sign it?
That remains to be seen.
Trump and House Speaker Ryan have not publicly discussed the possibility of signing the tax measure.
But the president has already called the Senate tax bill “a bad deal for the middle class.”
Ryan and House Minority Leader Nancy Pelosi are planning to introduce a bill Wednesday that would replace the Senate version of the bill with their own.
Ryan said Wednesday the House has been working with Pelosi and Schumer on the new legislation.
The goal is to get a bill that has more than $1 trillion in tax relief for the working and middle class, and that will raise taxes on the wealthy.
Trump’s proposal for a small tax cut for the wealthy has drawn criticism from conservative lawmakers, who say the president is not going to give them the money they need to help pay for his tax plan.
But they also said it could help pay down the $1.5 trillion debt the bill is expected to raise.
Trump also plans to sign a tax measure that would raise the child tax credit, which could help offset some of the cost of the tax plan, if he signs the tax reform package.
That could be the biggest change to the bill yet.3.
How does it work?
The tax plan includes some of Trump’s signature promises, including lowering taxes for the richest Americans and the middle-class.
That’s because the Senate bill eliminates the estate tax and the alternative minimum tax, which were designed to lower the incomes of wealthy people.
But those taxes are still in place.
Under the House version, the estate and alternative minimum taxes will continue to apply to estates worth more than about $3.45 million, and they will be phased out over a three-year period starting in 2025.
That way, the plan does not affect the value of estates worth between $5 million and $12 million.
The plan also lowers the top income tax rate for the wealthiest Americans, from 39.6 percent to 35 percent.
That rate will remain at 39.5 percent.
It also eliminates the mortgage interest deduction, which helps millions of homeowners buy homes.
And the plan lowers the corporate tax rate from 35 percent to 25 percent.
The tax cuts are divided into three parts: $1 billion for the first year, $1,000,000 for the second year and $500,000 in the third year.
The bill also includes a tax credit for families with two children, which is $1 in 2018, $2.50 in 2019 and $4 in 2020.
The Senate bill also eliminates taxes on overseas income that are taxed in the United States.
The House plan does away with that tax provision altogether.
Under that bill, the first $50,000 of income from overseas sources is not subject to tax, and the maximum amount is $250,000.
That is meant to encourage companies to invest in American jobs.