Senate Republicans Scramble to Find Revenue for Tax Bill With Vote Expected Friday
Still, “I am not committed to vote for this bill because who knows what is going to happen on the Senate floor.”
On the corporate tax rate:
Ms. Collins said she was open to nudging the corporate tax rate above the 20 percent currently envisioned in the Senate bill.
The Joint Committee on Taxation said Wednesday afternoon
that the Senate tax bill would add $1 trillion to federal budget deficits over the next decade, even after accounting for additional economic growth, a major blow to Republicans’ contention that the $1.4 trillion tax overhaul would pay for itself through growth.
“Business tax relief is central to the goals of creating jobs and promoting economic growth,” the groups wrote, “and we are concerned
that any effort to hold the corporate tax rate above 20 percent will substantially limit our ability to achieve those goals and expand opportunities for all Americans.”
Mr. Brady, Republican of Texas and the chairman of the Ways
and Means Committee, said he did not believe there was any willingness on the House side to increase the corporate rate above 20 percent.
• Earlier in the day, Senator John McCain of Arizona, who had been undecided about the bill, said he would vote yes,
but Senator Susan Collins of Maine said she remained undecided.