Sen. John McCain announced Thursday he will cast his vote in support of the GOP’s tax plan, a major sign of progress for GOP leaders who hope to vote on the tax overhaul by the end of the week.

The Arizona Republican said in a statement that the bill, which he believes is “far from perfect,” earned his vote because it “would enhance American competitiveness, boost the economy, and provide long overdue tax relief for middle class families.”

“This bill would directly benefit all Americans, allowing them to keep a higher percentage of what they earn,” McCain said. “According to the non-partisan Joint Committee on Taxation, every income bracket would see tax relief under this bill. The child tax credit would be doubled to $2,000 per child and the tax code would be substantially simplified.”

McCain also signaled his support of lowering the corporate tax rate to 20 percent, a move he believes would make the American economy more attractive for investment and help stimulate job growth.

He said he took seriously the concerns raised that the bill would increase the national deficit by $1.5 trillion over 10 years, but added it was clear to him the positives of the GOP tax overhaul override the negatives.

“This is not a perfect bill, but it is one that would deliver much-needed reform to our tax code, grow the economy, and help Americans keep more of their hard-earned money,” McCain said.

McCain also praised a “return to regular order” in the Senate.

“I am pleased that this important bill was considered through the normal legislative processes, with several hearings and a thorough mark-up in the Senate Finance Committee during which more than 350 amendments were filed and 69 received a vote,” he said.

McCain cast the decisive vote against the GOP Obamacare repeal bill over the summer in large part because he disapproved of the Republican leadership’s decision to rush the bill to the floor without going through the traditional Senate committee process.

With 52 members in the Senate, Republicans can only afford to lose two votes if they hope to pass their tax overhaul.

However, many commentators believe McCain’s support will pave the way for the bill to be passed.

Game Over. Its Done.
The tax reform/reduction bill WILL pass now that Senator John McCain has publically commited to voting YES.
Only questions: Do some scared Dems pile on now?
Will 1 or 2 Rs vote no in bid to be on TV this weekend.

— Grover Norquist (@GroverNorquist) November 30, 2017

McCain voting for bill likely means Flake too will support it. Corker too. Unlikely that Daines, Johnson and Collins all will vote and sink Senate bill. Bill likely to pass Senate. Big question is if they can reach deal w/House and pass compromise through both chambers.

— Manu Raju (@mkraju) November 30, 2017

Republican Sen. Ron Johnson of Wisconsin was initially opposed to the tax plan, but said Wednesday he would vote yes after the small business deduction was increased from 17.4 percent to 20 percent.

Republican Sen. Steve Daines of Montana also announced Wednesday he changed his “no” vote to a “yes” after seeing “good progress for Main Street businesses.”

[1/2] There has been some good progress for Main Street businesses in the tax cut bill. I was able to secure more than 60 billion in tax cuts for Main Street businesses. These Main Street businesses will be able to provide more jobs and higher wages in Montana and across the

— Steve Daines (@SteveDaines) November 29, 2017

[2/2] country. I've seen enough progress to vote yes to move the debate forward.

— Steve Daines (@SteveDaines) November 29, 2017

GOP Sens. Bob Corker of Tennessee, Jeff Flake of Arizona and Susan Collins of Maine have yet to announce their support of the bill. (For more from the author of “John McCain Reveals If He’ll Vote for GOP Tax Bill” please click HERE)

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