The differences between the bills passed by the two chambers are significant enough, that a final bill needs to be negotiated in committee and then both chambers of Congress will need to vote on it.

Both bills would add approximately $1.5 trillion to the national debt, causing many observers to wonder what happened to the GOP’s normal stance that the budget should be balanced.

One problem with that is Americans are already not saving enough for their retirements with current benefit amounts. It is not certain that changes to benefits would spur them to save more.

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.
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