Tax Reform Eh?

I’ll take under on the odds of this getting done.
If you think fixing Obamacare was tough politically taking on taxes is even worse.
Further, the “50+1” vote option is gone as of the weekend, so you can forget about that too. This means you need Democrat votes in the Senate to pass anything of this general sort, although there are gimmicks they can use to get “temporary” cuts in the budget process.
This is going to be highly amusing to watch, along with the market’s “reliance” on it when (not if) it becomes obvious that there’s not a snowball’s chance in Hell that this goes through either this year or next before the midterms.

This post was published at Market-Ticker on 2017-09-28.