LARRY KUDLOW: Think Reagan-Trump, not Nixon-Ford on tax cuts bill

Group 1 - Senate Majority Leader John Thune has set an April 11 deadline for a final agreement on a budget resolution that will support President Trump's tax-cut bill [1] - Senate Finance Committee Chair Mike Crapo is actively working on the tax-cut bill, with efforts to translate budget savings into rescission packages to undo spending [2] - The House has significant challenges, including a budget resolution that does not make the Trump tax cuts permanent [3][4] Group 2 - The House budget resolution lacks Senator Crapo's current policy baseline, which is essential for making tax cuts permanent on a deficit-neutral basis [4] - There is a concern that some House Republicans are reverting to a pre-Reagan approach of waiting to cut the deficit before implementing tax cuts [5] - Delivering Trump Tax Cuts 2.0 is complicated by the current policy baseline only applying to Trump Tax Cuts 1.0 [5] Group 3 - President Trump's proposed policies, including tax-free tips and a corporate tax cut, do not currently fall under the existing rules, complicating their implementation [6] - Both Republican houses are still far from achieving a tax-cut driven economic boom, but there is optimism that Trump will finalize the deal [7]