Scheduling Note for Senate Finance Panel's Tax Markup

From left, ranking member Sen. Ron Wyden, D-Ore., makes his opening statement as chairman Sen. Orrin Hatch, R-Utah, listens during the Senate Finance Committee markup of the GOP's tax overhaul legislation. (Bill Clark/CQ Roll Call)

The Senate Finance Committee is planning on releasing an updated version of its tax plan on Tuesday, according to the panel chairman, Orrin G. Hatch, apparently a little behind schedule from when panel members were expecting to see the proposal. 

“A modified mark will be provided to members later today which reflects input received from the amendments that have been filed,” the Utah Republican said. “Because of a large number of amendments that we have processed, the modified mark will be given to members later today ... and everyone can then have time to read over the modifications.”

Hatch said the markup would resume Wednesday morning. Members will spend a sizable portion of the Tuesday session questioning Tom Barthold, chief of staff for the Joint Committee on Taxation.

Democrats weren’t too happy with the timing announcement. 

“When we left last night we were told we would get the modified chairman’s mark the first thing this morning,” Senate Finance ranking member Ron Wyden complained at the beginning of Tuesday’s markup. “So now we’re on the second day and we still don’t have the full text of the bill,” the Oregon Democrat fumed. 

Senate Republicans must make revisions to their current proposal in order to meet the rules for the fast-track budget procedure known as reconciliation that the GOP Is using to advance a bill with only a simple majority support.

The chamber’s Bryd Rule mandates that any single provision in the legislation not raise deficits outside the 10-year budget window. Republicans are aiming to make many of the cuts permanent, meaning they must find additional ways to pay for those measures to comply with Senate rules.

Doug Sword contributed to this report. 

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