Coming off a week-long recess and without any significant legislative victories this year, the pressure is on the Senate this week to pass the FY 2018 budget resolution, S.Con.Res. 25, which provides reconciliation instructions for fundamental tax reform. The House passed its own version of the FY 2018 budget, H.Con.Res. 71, on October 5 by a vote of 219 to 206.

Americans like their tax deductions, but mainly because the tax rate to begin with is too high. This same principle holds for the state and local tax (SALT) deduction currently part of the 74,000+ page federal tax code. This deduction seems like a good idea, but Americans would be much better off with this deduction eliminated, and instead given real tax breaks across the board. Fortunately, the GOP tax reform framework released at the beginning of the month does just this.

The discussion inside Congress to eliminate the state and local tax deduction is a welcome path to sustainable tax reform that doesn’t fuel deficits. Its repeal would provide breathing room for pro-growth reforms like lower corporate tax rates, fewer income brackets, and overall simplicity.

On Wednesday, the "Bix Six" -- Treasury Secretary Steve Mnuchin, National Economic Council Director Gary Cohn, Speaker Paul Ryan (R-Wis.), Ways and Means Chairman Kevin Brady (R-Texas), Majority Leader Mitch McConnell (R-Ky.), and Finance Committee Chairman Orrin Hatch (R-Utah) -- unveiled a unified framework for fundamental tax reform. There are still many details that need to be provided, but the framework overhauls and simplifies the tax code, promoting economic growth, job creation, and fairness.