Senate GOP releases new version of tax bill ahead of vote

Senate GOP releases new version of tax bill ahead of vote
© Camille Fine
Senate GOP leaders late Friday offered a new version of their tax plan that incorporates a number of changes that lawmakers sought in order to support the bill.
 
The changes in the "substitute amendment" released by Senate Finance Committee Chairman Orrin HatchOrrin Grant HatchHatch warns 'dangerous' idea of court packing could hurt religious liberty Former Democratic aide pleads guilty to doxing GOP senators attending Kavanaugh hearing How do we prevent viral live streaming of New Zealand-style violence? MORE (R-Utah) include an increase in the deduction for "pass-through" business income from 17.4 precent to 23 percent, which was requested by Sens. Ron JohnsonRonald (Ron) Harold JohnsonGOP senator: 'No problem' with Mueller testifying The Hill's Morning Report — Category 5 Mueller storm to hit today GOP senators double down on demand for Clinton email probe documents MORE (R-Wis.) and Steve DainesSteven (Steve) David Daines Embattled senators fill coffers ahead of 2020 Main Street businesses need permanent tax relief to grow Overnight Energy: Bernhardt confirmed as Interior chief | Dems probing if EPA officials broke ethics rules | Senators offer bipartisan carbon capture bill MORE (R-Mont.).
 
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These changes are paid for in several ways, including the restoration of the alternative minimum tax, which was initially repealed in the bill. Exemption amounts for the tax are increased compared to current law.
 
The new version of the bill, which stands at 479 pages, was panned by Democrats for being released close to the final vote, without much time to review. Democrats received a copy earlier in the day and noted that it includes some handwritten changes.
 
Democrats also criticized specific provisions that were added to the bill, such as one that they said would benefit Wall Street and another that they argued was targeted to exempt conservative Hillsdale College from an excise tax on university endowments.