Senate Republicans are putting a big ribbon on their tax bill. Opening a hearing yesterday, Utah Republican Orrin Hatch said the measure aims to help workers and families. Hatch chairs the Senate Finance Committee and he argued that comprehensive tax reform is long overdue. House Republicans have been working on a similar-but-separate bill and it is expected to be voted on, later this week. Sweeping tax cuts are at the heart of both bills. Oregon Democrat Ron Wyden called it a massive Republican gift to the wealthiest Americans and corporations.
He also predicted that a GOP tax bill would blow-up federal deficits.