Right now, the marginal tax rate for anyone who makes $418,000 or more per year is 39.6 percent. The Republicans’ opening gambit — secretly negotiated for months, and endorsed by Trump — would have cut the highest tax rate to 35 percent.

But now, House Republicans’ thinking has changed. Under their current thinking, people who earn between $418,000 and $999,999 will be in a lower tax bracket. But those earning $1 million or more will not.