Doug Sword

Retired tax policy reporter

[Doug Sword @doug_sword]

13K drop in jobs in June snapped 53 consecutive months of gains, the 2nd longest stretch since Labor Dept.'s first monthly report in Feb. 1939. From Jan 2021 to May 2025, U.S. gained 16.9 million jobs, an average of 319K per month. Longest streak? 113 months, Oct '10 - Feb. '20.

[Reese Gorman @reesejgorman]

The Freedom Caucus are huddling in a room off the House Floor.

The last time they all huddled in this room was when they were “no” on the budget resolution.

They then flipped after coming out of that room.

[Doug Sword @doug_sword]

Alaskan fisheries and subsistence whaling gets two last-minute adds to the Senate's tax title @TaxNotes #taxes

[Doug Sword @doug_sword]

There appears to be an outlier.

[Erica York @ericadyork]

New @TaxFoundation analysis reviewing the major macroeconomic estimates of the "One Big Beautiful Bill" by @EconoWill

[Benjamin Guggenheim @ben_guggenheim]

Very excited to share that I’m joining POLITICO’s stellar Congress team.

If your work touches Ways and Means, Senate Finance or the commerce committees, let’s chat: [email protected]

Special thanks to @Zachary, @mikedebonis and @Emma_Dumain

[Doug Sword @doug_sword]

"I am unable to support this bill in its current form,” Rep Andrew Clyde, R-Ga., said in House Budget making him the fourth Republican to say he can't vote to advance the reconciliation bill as is. @TaxNotes

[Doug Sword @doug_sword]

"Sadly, I’m a hard no until we get this ironed out," said @RepRalphNorman, shortly following a similar statement from @RepChipRoy. @TaxNotes

[Doug Sword @doug_sword]

"“So I am a no on this bill unless serious reforms are made today, tomorrow, Sunday," @RepChipRoy said of the reconciliation bill now before the House Budget Committee. "We’re having serious conversations as we speak.” @TaxNotes

[Richard Rubin @RichardRubinDC]

Asked why Rs and Ds can't work together on a tax bill, Smith says, accurately:

“I did that last Congress, and the Senate killed it.”

[Eleanor Mueller @Eleanor_Mueller]

"I'm very skeptical," Jason Smith says at the Economic Club of the accuracy of JCT's cost estimates.

"Unless I like the number, I'm against the number, just being completely honest"

[Howard Mortman @HowardMortman]

It's 4:57am ET ... there's another vote during the House Ways and Means markup ... and they have to wake Rep. Blake Moore

[Doug Sword @doug_sword]

White House proposal to cut $2.5B in FY 26 would cut IRS budget to lowest level since 2002. https://t.co/UT6fEwKZif Reason given was to prevent IRS political targeting. IRS budget was increased during Trump 1.0 #IRS @TaxNotes

[Tax Notes @TaxNotes]

House Ways and Means Committee Republicans are keeping their promise to limit discussion of details about their mammoth tax package, including with House GOP colleagues not on the panel.

More from @doug_sword & @cady_stanton: https://t.co/uv7IezxdmK

[Cady Stanton @cady_stanton]

“I haven’t talked about anything to anyone,” said Ways and Means Committee member David Kustoff, R-Tenn. That includes his wife and friends, he said.

“It’s not just you — I can’t get answers either” about the tax details of the bill, @RepFrankLucas told Doug.

[Cady Stanton @cady_stanton]

New: The “vow of silence” that W&M members took to not discuss specifics with others about what is said during private meetings on the tax bill extends to spouses, friends, and even other potentially leaky members of Congress. From @doug_sword & me:
https://t.co/ronTgbpNNx

[Doug Sword @doug_sword]

Ways & Means Chair @RepJasonSmith confirms by implication the new tax bill deadline: "What I will say is the markup will be one day between now and July 4," he said when asked about the markup schedule. @TaxNotes

[Doug Sword @doug_sword]

House Budget Chair @RepArrington not only pans the budget resolution adopted by the Senate early this morning as "unserious and disappointing", but uses traditional scoring to put the cost at $5.8T, not the $2T Senate Rs say it is. @TaxNotes

[Doug Sword @doug_sword]

@SenBillCassidy says he's been assured budget offsets will be found as a reconciliation bill is crafted, but a current policy baseline "establishes a dangerous precedent": "As a conservative, I know sometimes even if you can open Pandora's box, it's better not to." @TaxNotes

[Doug Sword @doug_sword]

Want to know how Senate Rs might deal with a parliamentarian problem? Check out this story from @cady_stanton & @KatieLobosco @TaxNotes
https://t.co/jiznc1gdRr

[Doug Sword @doug_sword]

@George_A_Callas It's kind of like 1993 and the BTU tax, isn't it?