Republicans inch closer to passing tax bill that would 'add $1 trillion to deficit'

With Senator John McCain announcing his support for the Republican tax bill, the Senate is edging closer to passing a measure that would benefit the wealthiest Americans and is estimated to add more than $1 trillion to the federal deficit over the next decade. “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,” Mr McCain said in a statement. Mr McCain’s endorsement may help Senate Republican leaders breathe easier during the final vote, which is expected to take place by the end of the week.

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