Vote postponed as Don tax plan hits snag in US Senate

Washington, Dec. 1: Republicans in the US Senate scrambled to salvage their tax plan on Thursday after it hit unexpected roadblocks, leaving President Donald Trump still waiting for a major political victory he hopes to secure before year’s end.

Mr Trump had hoped his party would pass the controversial bill as early as Thursday night, handing the White House and Republicans their most significant legislative achievement of his young presidency.

But after 11th- hour negotiations over how to offset the cost of dramatic tax cuts for corporations and more modest cuts for individuals,

Senate majority leader Mitch McConnell postponed votes until Friday midday. A tense standoff on the Senate floor threw the bill’s fate into question, after a new projection showed the measure would add $ 1 trillion to the federal deficit.

The analysis complicated Mr Trump’s argument, shared by many Republicans, that the tax cuts would pay for themselves through additional economic growth.

Republicans hold a narrow 52- 48 Senate majority. Three defectors would kill the bill, and a handful were showing reservations about a measure that experts say would benefit corporations and the wealthy.

Senator Bob Corker wants a “trigger” inserted to raise taxes if revenues fall short of projections. But the Senate parliamentarian told lawmakers that such a mechanism would not be allowed under budget rules.

Republicans ultimately voted to proceed, but the showdown highlighted the delicate balancing act in getting the tax plan across the finish line.

— AFP