Senate leaders say they have the votes to pass their controversial tax bill after they were unable to get enough support for a vote on Thursday evening.
President Donald Trump also seems confident that the bill will pass.
Republicans Senators are working hard to pass the biggest Tax Cuts in the history of our Country. The Bill is getting better and better. This is a once in a generation chance. Obstructionist Dems trying to block because they think it is too good and will not be given the credit!— Donald J. Trump (@realDonaldTrump) December 1, 2017
On Thursday, Senator John McCain of Arizona announced his support of the bill, though the Republicans still had difficulty convincing fellow Republican Senators Jeff Flake, Steve Daines, and Ron Johnson.
Those three will support the bill after majority leader Mitch McConnell scrambled to try and find hundreds of billions of dollars in extra revenue for senators who are afraid that lowering taxes will raise the nation's deficit.
The Republicans are now considering tax increases down the road, possibly increasing in the corporate tax rate down the road, and the revival of the alternative minimum tax on wealthy individuals.
Senator John Cornyn of Texas said on Friday morning that they now have the 50 votes needed to pass the tax bill, with Vice President Pence able to cast a vote in the event of a tie. The Republicans can only afford to have two of their own senators oppose them.
Senators Corker and Flake want tax cuts to be less extreme after a report from the congressional Joint Committee on Taxation projected that the bill could add $1 trillion to the nation's deficit over a decade. Other Republicans argue that economic growth would make up the difference between spending and revenue.
Opponents of the bill say the legislation will help corporations and the wealthy on the backs of the middle class. According to a poll by Quinnipiac University, only 25 percent of Americans approve of the bill, and 61 percent believe that the bill mainly helps the wealthy.
A different poll by Harvard-Harris Poll show that 54 percent of respondents oppose the Republican tax bill, and 54 percent believe that it will hurt them financially.
The bill does give tax cuts, but many experts believe that these will be offset by plans to remove the deduction for state and local taxes. Those who live in high tax areas and states may see taxes increase substantially. According to a new analysis by the bipartisan Tax Policy Center, half of Americans could be paying twice as much in tax by 2027.
Social media had some reactions to the news.
This catharsis I'm feeling right now will be felt again in 2018 and 2020 when GOP lose everything defending Trump so they could pass a tax plan to benefit their donors.— PostimusMaximus (@PostimusMaximus) December 1, 2017
Hey, maybe the trickle-down from the Reagan era can finally begin and get the money from this tax plan flowing downward toward the middle class and the poor.— Jerry Sullivan (@ByJerrySullivan) December 1, 2017
What do you think of the plan?