President Donald Trump plans to make what his staff members called a “closing argument” for tax-overhaul legislation Wednesday as congressional Republicans consider last-minute revisions to key provisions. Here are the latest developments, updated throughout the day:

State Income Break Said to Be Part of Deal (1:09 p.m.)

A tentative deal reached by House and Senate lawmakers includes letting taxpayers deduct state income taxes in addition to property levies -- up to a $10,000 cap, according to two people briefed on the details.

The versions of the bills approved by the House and Senate just preserved the individual deduction for state and local property taxes -- capped at $10,000 -- but not for income taxes. House and Senate leaders, along with the White House, had previously signaled they were open to including state income tax deductions in the cap.

Under the House and Senate agreement, pass-through entities would be able to deduct 20 percent of their business income, instead of 23 percent as originally proposed in the Senate bill approved Dec. 2, the people said. The top individual tax rate would also be lowered to 37 percent, said the people, who asked not to be named because the discussions are private. Combined with a lower individual income rate, the change would still provide roughly the same amount of relief for owners of the most lucrative pass-through businesses.

The tentative accord comes as some Republican senators are still being briefed, and before the first open meeting of conferees at 2 p.m. on Wednesday.

President Donald Trump said Wednesday afternoon that passage of the bill would be a “historic” victory and that Republicans are “very, very close” to an agreement as he met with congressional negotiators at the White House.

“I think the conferees have reached a good place,” said Senator Thom Tillis of North Carolina regarding the tentative deal. -- Sahil Kapur

Negotiators Are Said to Reach Tentative Deal (12:13 p.m.)

House and Senate negotiators have reached a tentative compromise for the tax overhaul, said a person familiar with the conversations who asked not to be named because the discussions are private.

Lawmakers still need to get a cost analysis of their agreement, so it’s not yet definite, the person said.

House Ways and Means Chairman Kevin Brady, who’s overseeing the House-Senate conference committee, said he couldn’t confirm that a tentative deal had been reached, adding there is still work to do.

Representative Dave Reichert, a Washington Republican on the Ways and Means Committee, said there are still details to nail down.

The House-Senate conference committee is scheduled to hold its first and only public meeting at 2 p.m. on Wednesday. Thus far, negotiations on the tax overhaul have taken place behind closed doors. -- Kaustuv Basu and Erik Wasson

GOP Plans to Set 21% Corporate Rate in 2018 (11:40 a.m.)

Senate Majority Whip John Cornyn, a Texas Republican, said House and Senate lawmakers are “very close” on a deal that would meld their approaches to overhauling the tax code. “I think you’ll hear an announcement here relatively soon,” said Cornyn, the chamber’s second-ranking GOP leader.

The current plan is to set a corporate rate of 21 percent, but make that rate cut effective in 2018 -- a year earlier than the Senate’s measure would have -- according to a Republican official who asked not to be named because the discussions are private.

Republicans in both chambers had approved cutting the corporate rate to 20 percent from the current 35 percent, but the House plan would make that move in 2018.

Lawmakers are also leaning toward keeping the estate tax, the official said. Both chambers called for doubling the exemption limits for the tax, but the House bill calls for its full repeal in 2025. Negotiators are also planning to set a top individual tax rate of 37 percent and cut the mortgage deduction limit to $750,000 from $1 million, according to the official.

Republicans are trying to get final legislation hammered out in time for President Donald Trump to sign it next week -- giving the party a long-sought major policy victory before the end of 2017.

An announcement of a deal between the House and Senate is likely Wednesday, according to a source familiar with the discussions who asked not to be named because the talks are ongoing.

The Senate’s top Democrat, Chuck Schumer of New York, on Wednesday called for Majority Leader Mitch McConnell to delay a vote on the tax bill until Democrat Doug Jones, who won a special election in Alabama Tuesday, could be seated. That would take the GOP’s majority down to 51-49.

GOP Senate leaders have reiterated their desire to send the bill to Trump next week. -- Steven T. Dennis, Ari Natter, Laura Litvan