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A substitute amendment to the tax bill planned for Thursday will bring the bill’s deficit impact back down to under $1.5 trillion, House Ways and Means Committee Chairman Kevin Brady said.
That is the total amount the budget reconciliation instructions will allow the tax overhaul bill to add to the deficit over 10 years under Senate rules. The House has some flexibility to ignore the instruction, but Brady has decided to ensure the measure stays on the target with the addition he plans to bring Thursday.