McCain now backs GOP on tax plan

SEN. JOHN McCain joined a growing number of Republicans Thursday in supporting their party’s efforts to rewrite the nation’s tax code — a boost that could help the legislation pass the Senate.

The Arizona native, who once opposed similar reforms that he said would unfairly benefit the wealthy, was one of only a few holdouts still on the fence regarding the $1.4 trillion package.

The bill would slash the corporate tax rate, offer mild cuts for the middle class and eliminate several popular deductions.

“I believe this legislation, though far from perfect, would enhance American competitiveness, boost the economy, and provide long overdue tax relief for middle class families,” McCain (photo below) said in a statement.

Both the House and Senate plans spare upper-income taxpayers from the alternative minimum tax .

A leaked copy of Trump’s 2005 return show he paid $31 million in alternative minimum tax that year alone.

The GOP plan would also nearly double the standard deduction to around $12,000 for individuals and about $24,000 for married couples.

The tax cuts for individuals would expire in 2026 while the corporate tax cuts would be permanent.

Other possible Republican holdouts, including Lisa Murkowski of Alaska, announced their support for the bill on Thursday.

Their backing is key because Senate Republicans hold a slim 52-48 majority in the Senate.

Murkowski said she is behind the measure now that it would allow oil drilling in Alaska’s Arctic National Wildlife Refuge.

The controversial provision was tweaked to comply with Senate rules after being dropped earlier in the week.

“We have done it and we’re ready to go,” she said.

The support of McCain came as a surprise as he voted against similar tax cuts in the early 2000s under President George W. Bush, claiming that they unfairly aided the wealthy at the detriment of the middle class.

He was singing a different tune on Thursday.

“This is not a perfect bill, but it is one that would deliver much-needed reform to our tax code, grow the economy, and help Americans keep more of their hardearned money,” he said.

Republicans are hoping to hold a final vote on the bill by Friday.