The top U.S. Senate Republican and the White House budget director said on Sunday they hoped for action on a Republican tax reform package by the end of the year, while keeping their options open on how to pay for sweeping tax cuts.
President Donald Trump’s plan promises up to $6 trillion in tax cuts, but would increase the deficit by $1.5 trillion over the next decade. Democrats have criticized the package as a giveaway to the rich and corporations that would balloon the deficit.
Republicans, who control both the Senate and House of Representatives, have yet to produce a bill as their self-imposed deadline to overhaul the U.S. tax code by the end of 2017 approaches. The party’s lawmakers differ widely on what cuts to make and how to pay for them.
Trump participated in a conference call with House Republican lawmakers on Sunday where tax reform was discussed, a White House official said.
The president was also expected to travel to Capitol Hill on Tuesday to participate in Senate Republicans’ weekly policy lunch, with the tax package high on the agenda.