- Kevin Brady said they would get the price tag back down to $1.5 trillion
- The Republican said there was no decision yet on repealing the individual mandate
"I'm confident we're going to have tax relief at every income level for many, many Americans," the Republican chairman told CNN's Phil Mattingly.
While some individuals could see higher taxes under the prospective Republican tax plan, Brady said he believed "every American" would be better off because of the economic growth and wage increases he said the plan would spur.
Brady was speaking as his committee continued to field changes to the proposed tax legislation. The Congressional Budget Office said the latest changes to the bill mean it would add $1.7 trillion to the deficit over the next decade, putting it over the budgeted total of $1.5 trillion.
Due to Senate rules, a bill estimated to go over the budgeted total cannot pass with a simple majority and would face a filibuster threat from Democrats, essentially tanking the plan. While the House faces no such constraints, to reconcile legislation between the two chambers and send it on to President Donald Trump, the House bill must lower its price tag.
In the interview Wednesday afternoon, Brady said they would get their bill down to a $1.5 trillion total.
"The answer is yes," Brady said. "It will be within our budget instructions of 1.5 trillion."
Adding to the deliberations is a potential proposal to include a repeal of Obamacare's individual mandate, which would make the bill's already perilous status more controversial by including a major change to health care policy. Trump indicated
his support for repealing the health care rule to help pay for tax cuts last week.
The CBO said
Wednesday repealing the individual mandate would save $338 billion over the next decade.
Asked if they would try to include the repeal, Brady said it was still under consideration.
"No decisions have been made," Brady said.