(Bloomberg) -- The House Ways and Means Committee is “moving forward” on a tax bill, chairman Kevin Brady said Tuesday night, amid reports the panel would delay the release of legislation until Nov. 2.
The bill has been slated for released Wednesday. Brady said he had “no announcement” of a change in that plan. A member of the panel told Bloomberg Tax the bill may now come in the afternoon instead of the morning.
“A lot of work remains with the drafters and they will continue to work through the night,” Brady said, after meeting with the committee for about two hours Tuesday evening.
Several media outlets reported Tuesday that House Republicans had decided to postpone the announcement, and two people familiar with the deliberations said earlier they fully expected a one-day delay for the production of actual legislative text. But as the night wore on, Brady was determined not to admit defeat on his self-imposed Nov. 1 deadline and kept the team working on the highly anticipated bill.
Representative Carlos Curbelo, a Ways and Means member, said the release could slide into the afternoon. Members are continuing to hammer out final details of the bill. At the crux of negotiations is a decision on whether to phase in or immediately slash the corporate tax rate.
Ways and Means members have held hours-long meetings the last two days to work through details. Some members are disgruntled that they haven't been brought into the fold on details earlier, and some fear having to take a tough vote on a bill that will ultimately be overhauled in the more moderate Senate.
To contact the reporters on this story: Colleen Murphy of Bloomberg BNA at cmurphy194@bloomberg.net, Kaustuv Basu of Bloomberg BNA at kbasu8@bloomberg.net.
To contact the editor responsible for this story: John Voskuhl at jvoskuhl@bloomberg.net.
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