Friday, December 1, 2017

Fate of GOP Tax Bill in Doubt as New Analysis Pours Cold Water on It


Republicans are eyeing a crucial final vote Friday for a tax overhaul package expected to add $1 trillion to the nation's deficit over 10 years.

Sen. John McCain, R-Ariz., threw his support behind the tax plan Thursday, boosting the bill's chances of passage.

While McCain's support offered momentum, key holdouts expressed renewed concern about the plan after a late-in-the-day analysis from the nonpartisan Joint Committee on Taxation, or JCT, concluded that the plan doesn't live up to expectations.

Hope for a vote on the bill, however, re-emerged Friday after two of those GOP holdouts — Sens. Steve Daines, of Montana, and Ron Johnson, of Wisconsin, said they would support the bill after securing changes to how certain small businesses, known as "pass-throughs," would be taxed under the bill.

The previous evening, amid a whirl of meetings and dramatic votes, Senate GOP leaders rewrote the bill behind closed doors. They weighed scaling back the tax cuts in the legislation to secure crucial support. 

Click here for the full article. 

Source: NBC News 

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