Bob Corker

Senate GOP tentatively agrees to $1.5T plan on tax cuts

Senate Republicans are zeroing in on a tax outline that would add about $1.5 trillion to the government's $20 trillion debt over 10 years, justifying the spurt of red ink with promises of surging economic growth and a burst of new revenues.

Tennessee Sen. Bob Corker, a member of the chamber's dwindling band of deficit hawks, and Sen. Pat Toomey, R-Pa., one of the chamber's more ardent believers that tax cuts can pay for themselves, said they sealed an agreement on Tuesday.

The $1.5 trillion figure, confirmed by congressional officials familiar with the agreement, would allow deeper cuts to tax rates than would be allowed if Republicans followed through on earlier promises...

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