The lawmakers are racing for a July 4 deadline to have the whole package sent to Trump’s desk in time to also avoid a dangerous debt default. The Treasury Secretary has said federal tax revenues are running short and Congress needs to raise the spending limit to keep paying the bills.

Cheers broke out early Wednesday as Republicans on the House Ways and Means Committee signed off on the GOP tax breaks bill after a grueling round-the-clock session. But there's more work to do.