McConnell: Tax Bill 'Headed Toward the Finish Line Either Late Tonight or Early Tomorrow'

By Susan Jones | November 30, 2017 | 10:42 AM EST

Senate Majority Leader Mitch McConnell (R-Ky.) beams as he discusses the prospect of passing a tax reform bill. (Photo: Screen grab)

(CNSNews.com) - "We are on the cusp of a great victory for the country, and particularly small business," Senate Majority Leader Mitch McConnell (R-Ky.) told a news conference on Thursday.


"We're going down the home stretch, headed toward the finish line either late tonight or early tomorrow," he said of the tax bill, in a roomful of reporters and small business owners.

A short time later, Sen. John McCain (R-Ariz.), the Republican who torpedoed repeal-and-replace, tweeted: "After careful consideration, I have decided to support the Senate #TaxReform bill. Though not perfect, this bill will deliver much-needed reform to our tax code, grow the economy & provide long overdue tax relief for American families."

McConnell said tax relief is "an opportunity to hire more people and to build more of America and to get the growth rate up. And the growth rate's already beginning to tick up, as you've noticed on the last few quarters in anticipation of what we're about to do and also in recognition of the great deregulatory efforts that have already been going on during this administration.

"So I congratulate all these successful small business persons, and we're going to make them even more successful."  McConnell was applauded as he left the room.



Linda McMahon, head of the Small Business Administration, told the gathering she's been in 25 states since may, speaking to more than 450 individual small businesses: "Without fail, each of them has said to me, tax cuts is one of the single biggest things you can give us to help us grow our businesses."

She noted that small businesses owners are entrepreneurs, and with more money in their pockets, they will grow their companies, including hiring more people.

Sen. John Barrasso (R-Wyo.) told Fox News on Thursday he believes Republicans will get the required 50 votes, at least, to pass their tax bill after the amendment process is completed later tonight.

Meanwhile, the Dow Jones Industrial Average climbed at the opening bell, soaring above the 24,000 mark in early trading, ahead of the tax vote.

President Trump tweeted on Thursday, "The Dow just broke 24,000 for the first time (another all-time Record). If the Dems had won the Presidential Election, the Market would be down 50% from these levels and Consumer Confidence, which is also at an all-time high, would be 'low and glum!'"
 


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