US Republicans forge tax deal, final votes seen next week


Lee said Wednesday he thought he and Rubio would get their way.

And in a major reversal, Sen. Devin Nunes of California and Kristi Noem of South Dakota, said they believed Rubio's concerns had been met, but Rubio's office said he was still reviewing the bill.

Senate Democratic leader Chuck Schumer called on Republicans to delay a vote on overhauling the tax code for the first time in 30 years until Jones can be seated. He said he made a decision to support the bill now because the country is "better off with it" than without it.

Under the bill, tax returns being filed next year for 2017 would not be affected, but returns filed in 2019 for 2018 would.

According to the source, the language from the Senate bill for both credits was adopted by the conference committee that is reconciling the two bills. Leaders seem confident that the measure will pass, although narrow margins in the Senate give potential swing votes considerable power to affect the outcome.

Democrats have been unified against the measure, calling it a giveaway to corporations and the rich that would drive up the federal deficit. On Wednesday, he spoke positively about the compromise measure House and Senate GOP tax writers have been crafting, but added that he is reserving judgment until he sees the final product.

"I'm confident at the end of the day the Senate will approve this conference committee report because no one should be defending the status quo, the disgusting tax code Americans have had to live with for too long", Brady said.

House and Senate negotiators agreed to expand a deduction for state and local taxes to allow individuals to deduct income taxes as well as property taxes.

It would increase the refundability of the child tax credit. Currently, the credit is only partially refundable, meaning if it pushes a family's tax bill beneath zero, they can't necessarily get the full value of the credit as cash.

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Perhaps the most important takeaway, however, when it comes to individual tax breaks, is that they are going to be a lot less useful for middle- and upper-middle-class families. The move aims to put small business on an even keel with their larger counterparts, although the reduction is less than what lawmakers had sought in their original versions of the reform package.

By Thursday afternoon, as the discrepancy remained unresolved, Rubio announced publicly that, without a more robust credit, he would vote "no". "But there is still much more to do in the months and years to come".

"For far too long, Washington has ignored and left behind the American working class", Rubio tweeted. Republicans are adamant that cutting corporate taxes will in turn increase investments and wages in the United States and lead to unprecedented economic growth - despite analyses that indicate otherwise.

Asked about Rubio's concerns on Thursday, President Donald Trump predicted the senator would go along.

Lee said in a statement he was leaning in favor of the bill Friday, though still reviewing the details. He said he doesn't know yet when text of that agreement would be released. He will offer what aides called a "closing argument to the American people".

At least three other Senate Republicans still seemed to be undecided, including Arizona's Jeff Flake, who was not specific about his hesitation in brief hallway remarks to reporters.

Also unclear is whether this bill will do anything to placate the concerns of Maine Senator Susan Collins, a crucial Republican vote who has requested a package of additional changes created to stabilize health care markets. And Sen. Thad Cochran, R-Miss., had outpatient surgery on Monday to remove a lesion on his nose, said his spokesman Chris Gallegos, and "the procedure was more extensive than expected".

Sen. Bob Corker, R-Tenn., who voted against the Senate version of the bill because of its projected additions to the deficit, says he's reviewing the final version but is expected to oppose it as well. He said he expected both McCain and Cochran to be in Washington next week despite their medical problems.