The Senate Budget Committee on Tuesday approved the Republican tax bill, a crucial procedural step toward a vote by the full chamber later this week.
With the party-line 12-11 vote to advance the plan, Republicans overcame one possible roadblock in their push to chop tax rates for businesses and individuals by the end of the year.
Two GOP members of the panel had separate concerns that threatened to upend the bill's momentum. Sen. Bob Corker, R-Tenn., wants a "trigger" to raise revenues should the bill's economic growth effects not go far enough to make up for the nearly $1.5 trillion in estimated tax cuts over 10 years. The senator had fears about expanding budget deficits and suggested Monday that he could vote "no" to advance the proposal.
In a statement Tuesday, Corker said he backed the bill after reaching a tentative deal on a "trigger" to "ensure greater fiscal responsibility should economic growth estimates not be realized." The senator added that the proposal needs to be finalized but said he is "encouraged."