The two versions differ on timing of various components of the bill and on numerous details. Both are problematic as the discussions continue in conference committee. The tax-cut train will be chugging through the station this coming week, months ahead of the normal schedule for such bills. Although all tax measures are supposed to originate in the House, the Senate has cut to the front of the line. Senate floor debate began on Thursday, May 18.
Fissures are already evident.
A vote is expected on Monday, May 21. Majority Leader Trent Lott intends to whip through conference with the House and get the bill to the White House for signature before the Memorial Day recess. But this bill did not include many of the features included in the Senate bill. The House bill calls for a lower tax rate in the top income bracket than the Senate bill. Democrats in the House were not permitted to offer amendments.