House Ways and Means Committee Chairman Kevin Brady said late Tuesday that the planned Wednesday unveiling of the GOP tax reform bill would be moved to Thursday.
“Ways and Means Committee members met tonight to discuss the work we are doing on pro-growth tax reform,” Brady said in a statement. After consulting with President Donald Trump and “our leadership team,” Brady said, “we have decided to release the bill text on Thursday.”
He noted that the committee is “pleased with the progress we are making and we remain on schedule to take action and approve a bill at our Committee beginning next week.”
Delay of the legislation comes a day after Senate Democrats released what they argued is “a better plan” that lifts the cap on 401(k) contributions and creates a new auto-IRA option instead of the House GOP’s rumored plan to limit pretax 401(k) savings to $2,400 per year.