Most in the GOP see tax reform as the next act. It has been a priority even longer than repeal of Obamacare. House leaders definitely have their eyes on this prize: House Speaker Ryan recently told the Wisconsin State Journal that he plans to introduce a tax overhaul bill in September with the goal of moving it through the House by the end of the year. According to Politico, Senate Finance Committee Chairman Orrin Hatch said, “We’re not going back to health care. We’re in tax now. As far as I’m concerned, they shot their wad on health care and that’s the way it is. I’m sick of it.” For its part, the White House wants a bill on the president’s desk by December.

Here’s a central question: Will the bill run up the national debt even higher? That would be irresponsible. Publicly held national debt already exceeds $14 trillion. Without any tax cuts or new spending, it is headed for $25 trillion in 10 years. That would produce the highest debt-to-GDP ratio in modern times--crippling our ability to fund a strong national defense, pay for basic services, and care for an aging population.

Take a moment to digest - and applaud - a sign of bipartisan support for dealing with climate change. Last week (July 13) 46 House Republicans voted to reject a measure that would have deleted from the annual defense authorization bill a requirement that the Department of Defense study its vulnerability to climate change. With that Republican support, the amendment was defeated, 234-185

Two former CEOs and the former Chief Risk Officer of Goldman Sachs say that carbon pricing could help achieve comprehensive tax reform that boosts U.S. competitiveness and job growth, according to a statement submitted to the record of the House Ways and Means Committee last night.