Speaking on CNN's "New Day" Friday, Brat, a Virginia Republican and member of the conservative Freedom Caucus, also casually dismissed concerns over the Republican divisions that spoiled the GOP's last attempt at repealing and replacing Obamacare.
He credited Vice President Mike Pence with coming up with a "great compromise" that has advanced progress on Republicans' plan.
"It's not really a new bill -- same fundamental bill," Brat told CNN's Chris Cuomo. "But a few pretty significant amendments do two things."
But other Republicans have expressed skepticism related to progress on the health care front, pointing to the hurdle of an internal divide between moderate and conservative GOP House members that stalled the initial attempt to repeal and replace President Barack Obama's signature legislation.
Speaking after Brat's comments, Republican Rep. Rodney Davis of Illinois said negotiators are still talking.
"I wish I knew what was in this so-called deal," Davis told CNN's "New Day." "We're still negotiating."Brat said he expects the new plan will "lower the price of health care" using "free markets as much as we can." He added that "this is still a federal government structure, not totally happy with that outcome, but said "it at least cracks the door open to states having some ability to opt out of some of the insurance regulations."
"Secondly," Brat said, the still-emerging proposal "lets health care return to the states."
The Virginia Republican said that the Freedom Caucus is "still waiting on the official text" of the deal, but claimed that "we have language" to address both lowering premiums and coverage for pre-existing conditions. "It allows the states to opt out of the (regulations) to bring down the price."
"Those are two of the big pieces, a couple little pieces on the regulatory