The Senate tax-writing committee continued hammering out the details of its tax cut proposal Tuesday, while the House may vote on its bill as soon as Thursday. Here are the latest developments, updated throughout the day:
Thune: ACA Mandate Repeal in Revised Plan (3:59 p.m.)
Senator John Thune, the chamber’s No. 3 Republican, said the repeal of the individual mandate required by Obamacare will be included in the revised version of the Senate GOP tax plan.
House Majority Whip John Cornyn is confident the chamber will get the 50 votes it needs to pass a bill, according to Thune. “We wouldn’t have proceeded if Cornyn wasn’t confident he could get to 50,” Thune said.
The chairman’s mark out later today will fully comply with Senate budget rules designed to prevent long-term deficits, according to a Senate GOP aide who asked not to be named because the discussions were private. Adding the mandate’s repeal should help in that effort by reducing out year deficits. — Erik Wasson
Bloomberg News