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Trump Economic Chief Predicts Tax Bill Will Pass by Summer

National Economic Council Director Kevin Hassett predicts that the GOP tax bill will pass Congress by early summer, with finalization of the president's tax agenda expected next week. This timeline aligns with House Speaker Mike Johnson's goal to advance Trump's policy agenda by Memorial Day, despite existing differences between House and Senate Republicans. The proposed legislation aims to fulfill Trump's campaign promises, including significant tax cuts and changes to existing tax policies.

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6 views2 pages

Trump Economic Chief Predicts Tax Bill Will Pass by Summer

National Economic Council Director Kevin Hassett predicts that the GOP tax bill will pass Congress by early summer, with finalization of the president's tax agenda expected next week. This timeline aligns with House Speaker Mike Johnson's goal to advance Trump's policy agenda by Memorial Day, despite existing differences between House and Senate Republicans. The proposed legislation aims to fulfill Trump's campaign promises, including significant tax cuts and changes to existing tax policies.

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Trump economic chief predicts tax bill

will pass by summer


National Economic Council Director Kevin Hassett said he expects to
“finalize the president’s thoughts on the tax agenda” by next week.

Director of the National Economic Council Kevin Hassett speaks to the media outside
the White House in Washington, on April 18, 2025. |
National Economic Council Director Kevin Hassett said Friday that he
expects the GOP tax bill to pass Congress by early summer.
“The hope is that the tax bill will be passed by the summer, early summer
and so things are moving very, very quickly,” Hassett told reporters at the
White House. “We expect probably to finalize the president’s thoughts on
the tax agenda, at least first thoughts, opening salvos, by sometime next
week.”
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The timeline set by Hasssett lines up approximately with House Speaker
Mike Johnson’s aspirations to pass President Donald Trump’s policy agenda
by Memorial Day. It’s a very ambitious goal, though, given that there are
major outstanding differences between how Senate and House Republicans
have proposed extending trillions of dollars in expiring tax cuts from
Trump’s first term.
The GOP legislation also aims to deliver on Trump’s campaign promises to
eliminate taxes on tips, overtime pay and Social Security benefits, among
other new tax cuts. The tax provisions are part of the “one big beautiful bill”
Trump wants, along with energy, border and defense policies — and
potentially large spending cuts that could dig into Medicaid.
House Republicans approved a budget blueprint for the legislation last
week, following the Senate, before heading out of Washington for recess.

According to Hassett, the “Big Six” has been meeting regularly to discuss
the contours of Trump’s tax bill. The group includes Hassett, Johnson,
Senate Majority Leader John Thune (R-S.D.), Treasury Secretary Scott
Bessent, Senate Finance Chair Mike Crapo (R-Idaho) and House Ways and
Means Chair Jason Smith (R-Mo.).

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