HILL TAX BRIEFING: Tax and Spending Bill Headed to Budget Panel

The House Budget Committee plans to meet on Saturday to advance Democrats’ proposals for an up-to-$3.5 trillion tax and spending package, Chair John Yarmuth (Ky.) said Thursday.

The budget committee is tasked with assembling other House committee submissions into one legislative bill, but that doesn’t mean Democrats have resolved all their differences on the massive package. Rifts still remain over issues like addressing the federal deduction cap on state and local tax payments.

Senate Majority Leader Chuck Schumer (D-N.Y.) said ...