Senate Republicans delay tax reform bill after hitting deficit obstacle
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Senate Republicans held off voting on their tax reform legislation Thursday evening after a few key members balked at its deficit impact, planning to revise the bill late into the night and regroup Friday.
Senate Majority Leader Mitch McConnell, R-Ky., announced Thursday evening that the next roll call vote would be Friday morning.
The delay came after Republicans discarded their plan to implement a "debt trigger" for their plan in a Senate floor confab. After being told that the mechanism would run afoul of Senate rules, they began hashing out other ways to raise hundreds of billions of dollars of revenue.
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Sen. Bob Corker, R-Tenn., and others are seeking even greater revenue offsets after an official congressional analysis released Thursday found that the bill would increase deficits by $1 trillion over 10 years, even accounting for faster economic growth.