GOP Could Reveal Final Version Of Tax Plan As Early As Friday
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MIAMI (CBSMiami) -- Republicans could reveal the final version of their sweeping tax plan as early as Friday.
Members of the House and Senate are aiming to have the plan on President Donald Trump's desk by Christmas but that plan may be in jeopardy.
President Trump expressed confidence that Republicans in the House and Senate will pass the tax reform bill in the coming days.
"I think we will get there. It will be in a very short period of time. It will be the greatest Christmas present that a lot of people have ever received," said President Trump.
The combined bill would eliminate the Obamacare mandate, double the standard deduction for individuals and married couples, and allow taxpayers to deduct a combined ten thousand dollars from state and local income and property taxes.
"There's a lot of give and take here at the end and we'll get it done," said Sen. Orrin Hatch (R-UT).
Negotiations hit a roadblock Thursday after Florida Senator Marco Rubio threatened to vote against the bill. He's pushing for an expansion on the child tax credit.
"We're going to continue working with the Senator but we've think we've made great strides," White House Press Secretary Sarah Huckabee Sanders.
Utah Senator Mike Lee says he's also on the fence. Republicans can only afford to lose two votes and deliver the bill by Christmas which is what President Trump has asked for.
Democrats stand unified against the bill, arguing the biggest windfall would go to the wealthy and to corporations which would see their taxes cut to 21 percent.
"It leaves a huge debt on the backs of the middle class and it also doesn't invest in infrastructure," said Sen. Amy Klobuchar (D-MN).
Senate Majority Leader Mitch McConnell says a vote will happen on the final tax package next week.
Vice President Mike Pence has delayed a planned trip to the Middle East in case he's needed to break a tie.
Republicans believe they have the votes to pass the bill.
