Senators Corker and Toomey Reach Tentative Budget Resolution Deal
Bob Corker and Pat Toomey, GOP members of the Senate Budget Committee, have reached a tentative agreement on a budget resolution that would allow for tax cuts that would significantly increase the deficit as determined using static scoring. While the Senators did not specify the size of the potential deficit increase, Senator Ron Johnson indicated that he would support an amount of at least $1.5 trillion, up to $3 trillion, over a ten-year period. The budget resolution is of particular importance as it is a necessary step toward unlocking the reconciliation process through which Congressional Republicans intend to pass tax reform legislation with a simple majority vote in the Senate and avoid a potential Democratic filibuster.
Tentative U.S. Budget-Tax Deal Gets Nod From Two Republicans
Corker, Toomey Statement on Tax Reform