House Republicans plan to change their tax bill in committee Thursday to bring the total tax cut down to $1.5 trillion to bring it into compliance with Senate rules.
"I do expect to offer an amendment that, as required, brings our committee’s product within the budget reconciliation number of $1.5 trillion," Ways and Means Committee Chairman Kevin Brady said Wednesday evening in announcing a recess for the committee until Thursday morning.
Republicans will use the night to put together changes to the bill to save money.
When it was introduced, the bill was only a $1.4 trillion tax cut, according to Congress' official estimate, well within the limit required for the legislation to proceed through the reconciliation process that would disarm the filibuster in the Senate.
But Republicans adopted a Brady amendment Monday night that eased off some revenue-raisers, including rules meant to prevent corporations from shifting income offshore.
Brady did not indicate what might be in store to raise revenue to bring the total tax cut back below $1.5 trillion.
Senate Republicans plan to release their tax bill Thursday morning.
Democrats complained about Republicans recessing rather than working through more Democratic amendments and raised concerns about the possibility of Republicans introducing a major change to the bill Thursday morning with the intention of advancing the legislation the same day. Brady said he wanted to wrap up to allow members to be back in their districts for Veterans Day.
"This has been a day of suspense on our side," said Rep. Richard Neal of Massachusetts, the top Democrat on the panel.