“The president keeps saying the tax bill is moving through Congress. It doesn’t exist,” House Minority Leader Nancy Pelosi, D-Calif., said mockingly on Friday. “It doesn’t exist. There is no tax bill moving through Congress.”
Lawmakers will deal with those issues and more as Congress comes back into session, and realistically the window for action is closing fast. Seven legislative weeks are left before Congress scatters for a five-week August recess, a period when lawmakers are likely to lose momentum if they have failed to act on health care or taxes, and face GOP voters frustrated that they haven’t delivered.
Both issues are enormously difficult challenges, and the tax legislation must follow, for procedural reasons, passage of a budget, no small task on its own.
On top of it all, lawmakers are way behind on the annual spending legislation needed to keep the lights on in government. They were recently informed by Treasury Secretary Steven Mnuchin that they will have to raise the federal government’s borrowing limit before August, a daunting task ripe for brinkmanship.