The Republican tax bill, with its $1.9 trillion in new revenue and the first time since 1986 that the House has approved a major overhaul of its tax code, is likely to pass the House in the coming weeks.
But Republicans have long hoped the legislation would have a bigger impact on the economy than a bill that did not have much new revenue.
And now they want to hold the vote on a version that would have the economy’s top tax rate — currently 35 percent — at its current 35 percent rate.
It’s the first major legislative victory for the Republican bill, which has been criticized for leaving a big hole in the economy and raising taxes for the vast majority of Americans, including those earning more than $1 million a year.
The House’s tax legislation, known as the American Health Care Act, has already passed the Senate and has broad bipartisan support.
But House leaders are trying to make sure the legislation gets through the Senate by getting as many votes as possible on the House side, in hopes that it will give them a more comfortable margin in the upper chamber.
Democrats and many Republicans have complained that the legislation doesn’t give them enough leverage to use to push for more favorable changes to Medicare and Social Security.
GOP leaders have also been trying to hold up the tax bill for as long as possible in order to show they are working to deliver a tax package that would benefit everyone.
If they can’t get to a deal on a tax bill that has more revenue, they are trying the “last-minute” tactic of delaying it until after the debate on a $1 trillion tax cut for the wealthy.
Republicans and Democratic lawmakers have also criticized the bill for leaving the top rate unchanged, which is one of the most popular elements of the American health care law.
A majority of Republicans say that it should be raised to 15 percent, while a majority of Democrats say it should stay at 35 percent.
It is the first significant overhaul of the tax code in more than two decades.
The bill would allow the top tax bracket to rise to 39.6 percent from 35 percent, which would allow a higher tax rate on the wealthy and reduce the federal deficit.
Senate Minority Leader Chuck Schumer (D-N.Y.)
On Tuesday, the Senate Finance Committee held a hearing on the Senate Republican health care bill.
The committee voted 8-3 to advance the bill.
House Speaker Paul Ryan (R-Wis.)
The bill would also create a new $1,000 surtax on high-income earners, which Republicans say would be used to help pay for their health care plans.
But that measure has never gone anywhere in the Senate.
Ryan told reporters Wednesday that the bill is still being revised, and the final version of the bill has yet to be presented to lawmakers.
Trump, meanwhile, is expected to address the Joint Economic Committee on Wednesday afternoon, the first full day of the House session.