Senate Finance Committee chairman Orrin Hatch, R-Utah, unveiled the details for a $1.496 trillion next tax cut late Thursday night and stated that he aimed to begin debate Monday and then pass it at the committee level by the end of next week.

"I’m confident that if we continue to allow each chamber the opportunity to work its will, we can easily reconcile our differences, making good on our promise to enact comprehensive tax reform that will lift our nation and increase the standard of living for Americans across the country," Hatch said in a statement.

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