Cornyn: Senate GOP tax plan to be released Thursday

Sen. John Cornyn (R-Texas) is predicting that Senate Republicans will unveil their tax-reform legislation on Thursday. 

Asked about the bill, Cornyn said the “mark” — or the version drafted by Senate Finance Committee Chairman Orrin Hatch (R-Utah) — would be released Thursday. 

“Yep, well that’s the last I heard,” said Cornyn, the No. 2 Senate Republican, when asked if Thursday’s release date was “for sure.”

Spokespeople for Hatch didn’t immediately respond to a request for comment on the timing of the bill. 

{mosads}Cornyn added that the Finance Committee would start its mark up next week and Republicans are still aiming to pass their tax plan before leaving town for Thanksgiving. 

The timeline, if Republicans stick to it, leaves senators with a tight schedule.

Lawmakers are currently scheduled to leave for the weeklong Thanksgiving break on Nov. 17, just over a week after they will unveil their tax plan. 

But Senate GOP leadership is threatening to keep the chamber in session for part of the break in order to pass the tax legislation. 

Republicans have a narrow path to clearing a bill through the Senate. With 52 seats, they can only afford to lose two GOP senators, if every Democrat votes no, and still let Vice President Mike Pence break a tie. 

The House unveiled its own tax plan last week, with the House Ways and Means Committee beginning consideration of the bill on Monday.

Republican senators are already laying down goalposts for their own legislation. 

Sen. Tom Cotton (R-Ark.) is leading a push by conservatives to use the tax plan to repeal ObamaCare’s individual insurance mandate, despite leadership arguing a health-care fight shouldn’t be included in the tax plan. And Sens. Marco Rubio (R-Fla.) and Mike Lee (R-Utah) argue the $600 increase for the child tax credit in the House bill doesn’t go as far as they would like.

GOP senators, including Sens. Bob Corker (Tenn.), John McCain (Ariz.) and Jeff Flake (Ariz.), are also signaling that they are concerned about the impact any tax deal would have on the deficit.