The Senate Committee on Finance argues that its proposal of changes to the bill "prevents the largest tax hike in history."

Rep. Mike Lawler, a New York Republican, issued a stern warning to Senate Republicans earlier on Monday: Any changes to pare back the deal, he said, would cause the bill to collapse in the House.

House Republicans who secured a bigger cap on state and local tax deductions are pushing back on Senate Republicans, who are keeping the SALT cap at $10,000 in their forthcoming legislation as a placeholder for negotiations over the contentious issue.