Home news Republican holdouts back tax bill despite $1tn deficit alert

Republican holdouts back tax bill despite $1tn deficit alert


Two more Republican senators have said they will vote for a White House-backed bid to pass the biggest tax cuts since the Reagan era.Ron Johnson and Steve Daines said yes despite a nonpartisan Senate committee finding the bill will add $1tn (£742bn) to the federal deficit over 10 years.The committee’s report contradicts a White House claim that tax cuts would be compensated by economic growth.The Republican-controlled Senate plans a vote on Friday.Mr Daines, of Montana, and Mr Johnson, of Wisconsin, were among the few remaining Republicans who were on the fence.But they signalled their support for the legislation, which includes steeps corporate tax cuts, in statements on Friday.”After weeks of fighting for Main Street businesses including Montana’s farmers and ranchers, I’ve decided to support the Senate tax cut bill which provides significant tax relief for Main Street businesses,” Mr Daines said in a statement.
Source: BBC