House Republicans announced late Tuesday that they would delay by one day the release of their long-awaited tax cut bill that GOP leaders have promised will be the most extensive overhaul of the tax code in a generation, as members clashed over curtailing popular tax breaks to pay for trillions of dollars in tax cuts for individuals and corporations.
The bill was supposed to be unveiled on Wednesday, but House Ways and Means Committee Chairman Kevin Brady, R-Texas, announced in a statement, "In consultation with President Trump and our leadership team, we have decided to release the bill text on Thursday."
Republicans have promised that their legislation will slash taxes for businesses and individuals, simplify the complicated tax code and spur major economic growth. President Trump called on Congress to finalize the bill by Christmas.
"I want the House to pass a bill by Thanksgiving," Trump said during a meeting with business leaders at the White House on Tuesday. "I want all of the people standing by my side when we get ready to sign by Christmas."