Finance

Brady announces tax bill markup for Nov. 6

Greg Nash

The House Ways and Means Committee will begin debating the Republican tax bill on Nov. 6, Chairman Kevin Brady (R-Texas) announced Thursday.

The tax-writing committee will hold a markup for the GOP tax plan a week after Republicans release the bill on Nov. 1.

Brady announced the hearing moments after the House passed the Senate’s budget resolution by a two-vote margin, allowing them to fast-track efforts to reform the nation’s tax code.

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“Today is a historic day — and we are ready to deliver tax relief that improves the lives of middle-income Americans and struggling families who have been left behind in our slow-growing economy,” Brady said in a statement.

“By passing this budget today, we can send a clear message to the American people: real tax reform is on the way.

Twenty Republicans voted against the budget in the 216-212 vote, more than the 18 who voted against the original House version earlier this month.

Most of the 20 defectors were centrists from populous states that could stand to lose from eliminating the state and local tax deduction.

House Speaker Paul Ryan (R-Wis.) said this week that the GOP bill to cut taxes and scrap certain deductions would be released on Nov. 1.

Tags Kevin Brady Paul Ryan

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