Marc Gerson, former tax majority counsel to the House of Representatives Committee on Ways and Means, discussed how House and Senate Republicans differ on tax policy and how upcoming election results will influence negotiations on the Tax Cuts and Jobs Act of 2017 (TCJA) provisions. Senior Senate GOP leaders support extending tax policy without paying for it, while House Republicans seek offsets due to the national debt. "I think the 2025 tax reform effort, really, in a lot of ways is going to be this clash between a recognition of the current deficit situation running up against a traditional Republican position that tax cuts — particularly the extension of tax cuts — shouldn't be paid for," Gerson said. "So it's really a question of how that clash between those two things ultimately gets resolved in a really kind of high-stakes environment."