Bannon thinks tax law changes probably won’t happen until next year: report

Former White House chief strategist Stephen Bannon said in Hong Kong that changes to the U.S. tax code are unlikely to happen until 2018, The Wall Street Journal reported Tuesday.

An attendee at an investment conference organized by CLSA told the Journal that Bannon said that he doesn’t think tax changes are likely for at least the next three months.

Bannon’s prediction contrasts with the assertion from administration officials and key GOP lawmakers that tax-reform legislation will be enacted in 2017.

Treasury Secretary Steven Mnuchin said Tuesday at a conference hosted by CNBC that policymakers are “going to get this done by the end of the year.”

{mosads}White House officials said that President Trump made a deal with Democrats on a three-month debt limit and spending package in order to “clear the decks” for tax reform.

However, analysts with Moody’s Investors Service and Goldman Sachs have said that the debt limit deal could reduce the chances of a tax-code overhaul.