How Republicans Closed the Deal on Tax Cuts
Updated on December 15 at 6:14 p.m. ET
It’s all over except the voting.
Republican negotiators representing the House and Senate on Friday morning signed off on a final version of legislation that will, at a cost of up to $1.5 trillion, deliver a steep permanent tax cut to corporations and more modest, temporary reductions for individuals and families. In the last hours of tweaks, the GOP boosted a benefit for working families at the behest of Senator Marco Rubio of Florida, likely securing his vote and the support the party needs to pass the bill next week. And they flipped the one Republican senator who had voted no on the chamber’s original bill earlier this month, Bob Corker of Tennessee.
The House signed on Friday won’t be subject to amendments, and negotiators evinced little worry that the landmark deal—which represents the largest changes to the tax code in more than 30 years—would fall through. House Majority Leader Kevin McCarthy announced the House would vote on Tuesday, with the Senate expected to send the plan to President Trump’s desk soon after.
