Marc Gerson, former majority tax counsel for the House Committee on Ways and Means, discussed the challenges and uncertainties facing the House GOP as it contemplates tax actions following the November 2024 election. House Republicans are planning an ambitious tax rewrite, with a focus on extending the Tax Cuts and Jobs Act (TCJA) and exploring other reforms. However, the details of the early 2025 reconciliation package remain unclear, including what provisions will be included and how to balance competing priorities within the party. Gerson is skeptical about the speed of the GOP's proposed tax action. He cautioned, "I know there's talk of preparing a reconciliation bill and doing it sooner rather than later, but you have to look at what happened with the 2024 bill." He pointed out that past efforts, such as the 2024 tax package, were delayed due to Senate resistance and complicated negotiations. Gerson also noted that Senate Finance Committee Chair Mike Crapo's (R-ID) cautious approach likely means that a quick reconciliation process might be more difficult than Republicans anticipate. Additionally, Gerson addressed the possible influence of Democrats in the process, particularly if they retain control of the House. He said, "The Biden $400,000 threshold is kind of off the table." Gerson added "If Democrats can keep the House, then those things come back to a negotiation," referencing the potential for a shift in tax negotiations if Democrats are involved, particularly with their focus on increasing taxes on the wealthy and corporations.