The House Ways and Means Committee today marked up and approved the GOP’s Tax Reform 2.0 package. Chairman Kevin Brady (R-TX) offered three amendments in the nature of a substitute, which would make a series of minor clerical changes to the bills. Here are the key documents and materials for the bills that were approved:

Protecting Family and Small Business Tax Cuts Act (H.R. 6760)

Family Savings Act (H.R. 6757)

American Innovation Act (H.R. 6756)

During the markup, Democrats on the panel criticized Republicans for doubling down on bad policy and pushing through yet another tax-cut package without hearings and public input. Democrats also repeatedly pointed out that the package was unpaid for and would add $3 trillion to the national debt.

The always colorful Congressman Bill Pascrell (D-NJ) compared Tax Reform 2.0 to Caddyshack II and Weekend at Bernie’s II, noting that the “sequel is never as good as the original,” which in his opinion was also a flop.

House leaders are planning to hold a floor vote for the package in the last week of September – passage is expected. Tax Reform 2.0 has near zero chance of passage in the Senate. However, provisions in the Family Savings Act (H.R. 6757) have strong bipartisan support; the bill could be taken up separately after the midterm elections.

Here are the amendments that were offered at the markup:

  • Pascrell – Eliminate the cap on the state and local tax deduction and increase the corporate tax rate to offset the cost of eliminating the cap [Failed 14-21].
  • Neal (D-MA) – Expand EOTC, make adoption tax credit refundable, and enhance the child dependent care credit. Restore the top marginal income tax to offset the cost [Failed 15-21].
  • Thompson (D-CA) – Provide for disaster tax relief [Failed 15-21].
  • Sanchez (D-CA) – Restore the deduction for certain medical expenses [Failed 15-21].
  • Doggett (D-TX) – Release Trump tax returns [Ruled non-germane].
  • Larson (D-CT) – Protect Social Security and Medicare trust funds [Failed 15-21].
  • Doggett (D-TX) – No tax breaks for corporations until the middle class receives the promised benefits of tax reform [Ruled non-germane].
  • Kind (D-WI) – Add stretch IRA provision and PBGC premium relief, among other things, to H.R. 6757 [Failed 14-21].
  • Brady – amendment in the nature of a substitute for H.R. 6760, making clerical changes to the original bill [Adopted].
  • Brady – amendment in the nature of a substitute for H.R. 6757, making clerical changes to the original bill [Adopted].
  • Brady – amendment in the nature of a substitute for H.R. 6756, making clerical changes to the original bill [Adopted].