Senate Tax Trigger Would Allow for $350 Billion Increase, Sources Say
- Provision for higher corporate levies is subject to change
- Lawmakers seeking trigger to prevent increasing deficits
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Senate Republicans are discussing adding provisions to their tax bill that could trigger up to $350 billion in automatic tax increases over 10 years beginning in 2022, according to two people briefed by congressional staff members on the plan.
A third person familiar with the emerging proposal confirmed the details. Republican senators including Bob Corker of Tennessee and James Lankford of Oklahoma have sought the trigger provision as a way to prevent the tax cuts in the Senate bill from increasing federal deficits.