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John Thune, the incoming Senate majority leader, said he hoped to have a comprehensive tax policy package in place by the summer, but acknowledged it would take some time to agree on changes to the complex tax code. Mr. Thune said failure was not an option when it came to taxes. According to Mr. Thune, the complex issues facing the tax reform bill include what benchmarks to use, whether to make the tax cuts permanent and what should be offset.
U.S. Senator John Thune of South Dakota, who was elected majority leader of the U.S. Senate and will lead the Senate Republican caucus in the next term, won a three-way race in a closed-door vote on Wednesday to succeed Minority Leader Mitch McConnell. In the Senate, given the Republican majority of 53 seats, Thune will have some room to maneuver in the Senate. Thune, 63, has not yet committed to the caucus leader position...
