Can Republicans Thread the Needle on Tax Policy?

The so-called “Big Six” of Republican policy makers has now laid out general guidelines for tax legislation. The group – including House Speaker Paul Ryan, Ways and Means Chairman Kevin Brady, Senate Majority Leader Mitch McConnell, Senate Finance Chairman Orrin Hatch, Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn – favors a long list of items – income tax rate cuts, more generous business deductions, changes to the taxation of foreign income, and so on.