The Senate appeared ready to narrowly approve a $1.4 trillion tax overhaul early Saturday, following a day of procedural delays and frustration. The legislation would cut the top corporate tax rate to 20 percent and lower taxes for most individuals.
Passage of the tax bill would be a significant victory for Republicans who have struggled to fulfill many key legislative promises.
It was a dramatic day as lawmakers anxiously awaited a final version of the bill. Senate Majority Leader Mitch McConnell told reporters early in the day Friday that he believed that there were enough votes to pass the tax bill, but it took Republicans until late in the evening to make sure the bill conformed to strict Senate budget rules.
McConnell's sudden certainty marked a dramatic shift after a number of Republicans on Thursday threatened to oppose the bill over fears that the steep tax cuts could add trillions to the deficit over time.
McConnell worked around the clock to satisfy their demands, and a number of high-profile holdouts on the legislation said they expected a new version of the bill would satisfy a wide range of GOP demands.