House Ways and Means Chairman Kevin Brady said Wednesday he expects to announce a deal with concerned Republicans from high-tax states on the state and local tax deduction "before the bill will be laid out next week."
"We're working toward a solution," he said at a Washington breakfast hosted by the Christian Science Monitor. "These lawmakers brought us good ideas."
The Texas Republican said he doesn't believe cutting state and local tax deductions will force states like New Jersey and New York, which pay Washington more in taxes than they receive in services, to become even bigger net donors.
Brady said the House expects to adopt the Senate budget this week and that his committee plans to mark up the bill "shortly after" it's released.
"No decision's been made on a top rate," he said. "We also have not set the brackets and the income levels because we want to make sure we're addressing the concerns from members in high-tax states."
