Will Christmas come early for U.S. taxpayers?

President Donald Trump and many federal legislators hope to have the first major tax overhaul in more than 30 years done by the end of 2017, with an ambitious schedule set for passing a deeply complicated and controversial piece of legislation.

A Washington Post poll found only about 30% of Americans support the tax plan — a level of support lower than any major legislation passed in the last three decades, including the economic stimulus package and Affordable Care Act adopted in 2009, according to an analysis by George Washington University’s Chris Warshaw, an assistant professor of political science.

The U.S. House of Representatives passed its tax reform bill on a 227-205 vote on Nov. 16, with the Senate Finance Committee approving its version on a 14-12 vote along party lines. But those opposing the House bill cited several factors, including its repeal of much of the deduction for state and local income taxes. This would be a major loss for taxpayers in certain states, including my home state of Maryland, where 46% of taxpayers claimed a deduction in 2015 — the highest rate in the country and well above the 30% national average, according to the nonpartisan think tank Tax Policy Center.

And some House bill provisions were just mean-spirited. Not allowing overworked teachers who pay out of their pockets for school supplies to take a $250 deduction is one of them. Luckily, the Senate version would not only keep that deduction in place, but double it.

Speaking of the Senate bill, a provision to repeal the Obamacare individual mandate requiring Americans to purchase health insurance or pay a penalty has been cited by senators planning to or considering voting against it. The Trump administration is willing to abandon the attempted mandate repeal to get the job done, but other obstacles remain, including a plan to schedule individual tax cuts to expire at the end of 2025 while the corporate tax rate reduction would be permanent.

There’s no doubt a tax code overhaul has potentially positive implications for insurers and their customers.

The House bill would replace the current structure of corporate income tax rates, which has a top rate of 35%, with a single 20% rate. The Property Casualty Insurers Association of America applauded its passage, saying “reducing the corporate tax rate will help the property and casualty industry be more competitive.”

Some insurance groups have praised an effort to level the playing field for U.S.-based insurers by closing the so-called Bermuda loophole, which allows foreign insurance groups to shift their U.S. reserves into low or no-tax jurisdictions overseas through reinsurance transactions and avoid paying U.S. tax on their investment income. Other groups expressed concern that such a move would shrink market competition and increase costs for insurance buyers.

Tax reform was going to be a heavy lift even before the wave of sexual harassment and assault charges levied against current and potential members of Congress. With folks on both sides of the aisle wrongly turning these charges into a partisan issue, that’s going to further divide Congress and perhaps make tax reform impossible.