Senate advances tax bill toward vote later this week

WASHINGTON — Senate Republicans pushed their tax plan past another key hurdle Wednesday, a show of momentum for President Donald Trump’s top priority even as frantic negotiations with Republican holdouts made final passage uncertain.

The 52-48 vote, with all Democrats opposed, marked an important milestone as Republicans in Congress scrambled to deliver a significant accomplishment by the end of Trump’s first year in office.

It was the first time the plan has been considered by the full Senate. A final vote is likely by the end of the week.

Still the $1.5 trillion package remains in flux. Senate Majority Leader Mitch McConnell, RKy., is working behind the scenes to prevent defections from his 52-seat Republican majority. He can afford to lose only two votes, assuming Vice President Mike Pence breaks a tie.

But at least eight Republican senators have voiced concerns. And even though they voted Wednesday in favor of opening debate on the bill, they could yet vote against the final package.

Some Republicans, led by Sen. Bob Corker, R-Tenn., want assurances the tax cuts won’t add to the deficit. Others, including Sen. Ron Johnson, RWis., are pushing for increased benefits to so-called passthrough entities, including small businesses, law firms, real estate partnerships and other wealthy professionals.

Significant revisions to the legislation still may be made ahead of the final vote, and negotiations could continue later this month in a conference committee as the House and Senate reconcile their different bills.

To pay for concessions negotiated in recent days to win over reluctant Republicans, GOP Senate leaders need to find about $160 billion in additional revenue. It remains unclear where that money will come from, but some lawmakers are mulling whether to scale back the proposed corporate tax cut. Under the current plan, the rate would drop substantially, from 35 percent to 20 percent, though some senators support increasing that to 22 percent.