CBO

President Donald Trump is pitching the Republican tax-cut plan as aimed primarily at helping middle-class Americans, but the biggest beneficiaries of cuts in the individual tax rates are in the wealthiest income brackets.

Republican lawmakers are scrambling to lock up the votes needed to finalize a tax bill that can make it to President Donald Trump’s desk by the end of the year, without the benefit of an important estimate of its possible economic benefits.

President Donald Trump will try to make the case that corporate tax breaks would benefit middle-class wage earners Wednesday evening—and an excerpt of his speech suggests he’ll use a measure of salesmanship.

Senate Republican leaders and President Donald Trump appear determined to begin a floor debate Tuesday on repealing Obamacare in a highly unorthodox way—without lawmakers knowing what they’ll be voting on or where it might end up.

The party has lurched in recent days between giving up on repealing Obamacare and restarting talks over a new Trump administration proposal.

The Senate bill reduces the deficit by $420 billion, the CBO said, compared with the $321 billion in deficit reduction in an earlier version, giving Republican leaders additional money they can use to court holdout votes. Much of the increased funding comes from a decision to no longer cut taxes on the wealthy.

The latest draft would leave intact Obamacare tax increases on the wealthy.

The latest iteration of the Republican effort to repeal and replace the Affordable Care Act includes provisions designed to win over both conservative and centrist GOP members of the Senate.

Senate Republican leaders dropped provisions that would repeal two taxes on high earners in a revised draft of their health-care bill sent to the Congressional Budget Office, according to GOP senators.

The Obamacare replacement plan put forward by Senate Republicans would increase the number of uninsured Americans by 22 million while slashing funding for Medicaid, according to an estimate by the Congressional Budget Office.