WASHINGTON (AP) – Senate Republicans are stepping quickly to meet competing demands of holdout GOP senators for a tax overhaul package expected to add $1 trillion to the nation’s deficit over 10 years.
GOP leaders have been making major changes up to the last minute, including one that would roll back some of the tax cuts after six years to appease deficit hawks.
The Republicans eye a crucial final vote Friday on the $1.4 trillion Senate bill carrying the hopes of President Donald Trump and the Republican Party to preserve their majorities in next year’s elections.
The overall legislation would bring the first overhaul of the U.S. tax code in 31 years. It would slash the corporate tax rate, offer more modest cuts for families and individuals and eliminate several popular deductions.