Senator Bob Corker, the original lone dissenter to the first variation of the Senate tax bill, and Senator Marco Rubio, the latest dissenter to the upcoming tax bill, have both signaled they will now vote in favor of the bill. It is expected to come up for a vote next week.
There are still three potential holdouts: Arizona’s Jeff Flake, Utah’s Mike Lee and Maine’s Susan Collins. All have indicated they want to read the bill first before deciding. It is expected to be released to the public today.
The House and Senate have passed separate tax bills, but they have been working to come up with a final $1.5 trillion GOP tax reform legislation. Final votes are likely in both chambers next week.
As he departed the White House on Friday for a speech at the FBI academy, Trump told reporters he has seen the details of the final version and is confident Republicans will get behind it.
The President’s comments on the bill were short of a commitment to passage. He’s likely waiting to hear from the three GOP Senators on the fence. It will pass easily in the House, but the Senate can only afford two No votes from Republicans in the Senate.
We need tax cuts and I reserve the right to judge it until it’s fully released, but most indicators so far lead me to believe this will be another populist push by the GOP to get as many wins as possible while upsetting as few people as possible. It’s not the type of tax cut that we really need, but without expansive spending cuts that the GOP has thus far been unwilling to attempt, they can’t cut taxes to the desired level.