CBS News on Friday obtained an outline of the final deal House and Senate Republicans reached on taxes, after negotiators from both chambers worked out the differences between their two bills. Significantly, the final agreement eliminates the individual mandate penalty under Obamacare, something the original Senate bill did but the House bill did not.
The success of the final legislation looked more likely Friday, after Sen. Bob Corker, R-Tennessee, said he would vote for the bill, and Sen. Marco Rubio, R-Florida, seemed to have his concerns about the generosity of the child tax credit satisfied. The House is expected to vote on the legislation Tuesday, a congressional source tells CBS News, and the Senate after that. No Democrats are expected to vote for the legislation.
The final agreement is expected to be released late Friday.
Here are the details of the final tax agreement, according to the conference committee:
The GOP claims the bill will mean a $2,059 tax cut for a family of four earning the median family income of $73,000.
This is a developing story and will be updated.
CBS News' Catherine Reynolds and Kathryn Watson contributed to this report.