The centerpiece of the House GOP tax package is an extension of last year’s tax cuts beyond their 2025 expiration date; that is unlikely to draw enough Democratic votes to become law. But Mr. Brady said he hoped the new retirement bill will attract bipartisan support.
.. Emergency savings are a big focus of this year’s House Republican effort.
Rep. Kenny Marchant (R., Texas), said the bill could include a universal savings account, funded with posttax dollars but with tax-free earnings and more flexible withdrawal rules than existing retirement accounts.
.. The Line 3 project, which would carry crude oil from Alberta, Canada, across Minnesota to a terminal in Wisconsin on Lake Superior, is a replacement of a pipeline built in the 1960s. Enbridge said the existing pipeline requires as many as 900 repairs over six years. It has reduced capacity on the current line to 390,000 barrels a day, from 760,000 barrels a day, out of safety concerns.
.. “It feels like a gun to our head that somehow compels us to approve a new line because of the risks of that existing pipeline,” he said.
.. His main argument is that Minnesota’s refineries would get enough oil without a new pipeline, a conclusion reached by a state Commerce Department study. “There’s just simply no need for this,” Mr. Plumer said.