Sen. Warner says tax overhaul will cause deficit to soar

(Washington) — Senate Republicans are stepping quickly to meet competing demands of holdout GOP senators for a tax overhaul package expected to add $1 trillion to the nation’s deficit over 10 years. GOP leaders have been making major changes up to the last minute, including one that would roll back some of the tax cuts after six years to appease deficit hawks.

Democrat Mark Warner of Virginia expressed opposition on the Senate floor Thursday. Warner says — as written — the GOP tax plan will result in “a $2.2 trillion addition to our debt,” and he called on members of both parties to “take a moment and rethink their support for this legislation.”

Supporters of the $1.4 trillion Senate bill are in hopes it enable President Donald Trump and the Republican Party to preserve their majorities in next year’s elections.