On December 1, 2017, GOP leaders announce they have the votes to pass the landmark tax reform legislation. The vote is expected to take place late Friday afternoon as one by one the few remaining Senators on the fence move to support the bill. The measure would lower the corporate tax rate to 20 percent and double the standard deduction for families and individuals, among other key provision, according to FOX NEWS.
Senate Republicans are working to pass the most significant Tax Cuts in recent history; A much-needed approval for the Trump administration and another campaign promise fulfillment. Of the last holdouts, Sen. McCain has declared his support for the legislation saying, “I believe this legislation, though far from perfect, would enhance American competitiveness, boost the economy, and provide long-overdue tax relief for middle-class families.” Senator Jeff Flake of Arizona says he has advocated for a lower corporate tax rate for twenty years. Flake, like many others, believe a lower tax rate for corporations enables U.S. businesses to compete on a global scale.
Senator Flake was just one of three Republicans who had not supported the measure this morning. However, Susan Collins of Maine is now a yes, and it’s not yet clear where Bob Corker of Tenn stands.
Republicans have the 50 votes required to pass the bill, according to a report by ABC NEWS.
By Jireh Gibson
Sources:
ABC NEWS: McConnell: ‘We have the votes’ to pass tax reform
FOX NEWS: White House confident they have votes to pass Senate GOP tax plan
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