After a week of frenzied debate and last minute deal making, the Senate approved a sweeping package of tax cuts by a vote of 51 to 49 with Senator Bob Corker (R-TN) and all Democrats voting in opposition. It remained unclear throughout most of the week what would be included in the bill and whether it would have support necessary for passage. Much like the earlier Senate debate over repealing the Affordable Care Act (ACA), Senate Republican leadership was forced to tread a fine line to attract support from both the moderate and conservative wings of the caucus without alienating either.
House Republicans approved their version of the bill earlier this fall, also on a partisan vote. The House and Senate will now appoint conferees that will work to close the gaps between the House and Senate measures, before sending a compromise package back to the chambers for final approval. Republican leadership aims to have a final bill on the President's desk before Christmas. Of course, there is a slim chance that the House will simply accept the Senate bill and send it to the President.
The action in the Senate this week closely mirrored the ACA debate in late July when the wheeling and dealing that typically occurs behind closed doors reached the floor of the Senate chamber. However, unlike in July, Senate Republicans were able to put together a bill that finally passed the Senate very late into Friday night. The prospects for passage of the final bill, which was released Friday afternoon, remained unclear right up until the actual vote. However, Senate Republicans had picked up momentum earlier in the week as they slowly gathered support from Republican holdouts by modifying various sections of the bill…