Speaking on Fox Business

He adds:

  • We are on track to get tax bill to Trump in December
  • Minor differences between House, Senate tax bill
  • We'll reconcile differences between tax bills
  • Removing state tax deduction won't impact most people.
  • Will continue to discuss carried interest issue
  • Very doable to get tax bill to Trump by the end of the year.

The US government is off for the Veteran's Day holiday but next week will be key.

The House says they would like to pass their reform by Thursday of next week.

Major differences between the House and Senate include:

  • Senate delays corporate tax rate until 2019/House immediately cuts tax rate t0 20%
  • Senate repeals state and local tax deduction/ Keeps part of property tax deduction

The vote:

  • The House has a 24 vote head start with Republicans outnumbering Democrats
  • The Senate has a 2 vote leeway. Needless to say, that vote is tighter.

If each gets passed, the House and Senate plans then go to committee which will hash out the details of each and come up with a unified bill to be voted on and ultimately presented to the President.