Sen. Jeff Flake says he'll vote for the Senate tax bill

Financial expert Matt Vian from Northsight Wealth Management said a major part of the proposed tax reform bill focuses on corporate America.

Sen. Jeff Flake (R-Ariz.) said Friday he planned to vote to pass the proposed tax plan.

Flake said he would only vote for tax reform that is "fiscally-responsible and promotes economic growth."

He said this bill "secures both those objectives."

Following Flake's announcement, Senate Majority Leader Mitch McConnell said Republicans had the votes needed to pass the bill. 

Another Republican holdout, Sen. Susan Collins of Maine, said Friday morning she would announce her position later today.

Previously, a number of other senators who were considered on the fence, including Arizona's John McCain and Wisconsin's Ron Johnson, said they would vote yes.

Read Flake's full statement: 

For nearly two decades I have advocated for a lower corporate tax rate that will enable U.S. business to compete globally and reforms that will deliver a fairer, simpler tax code.

From the outset of the current debate on tax reform, my goal has been to ensure that Congress passes a tax reform package that is both fiscally-responsible and promotes economic growth. During the debate over the current bill, I’ve focused on two specific objectives. The first was to eliminate the $85 billion expensing budget gimmick in the bill. The second was to obtain a firm commitment from the Senate Leadership and the administration to work with me on a growth-oriented legislative solution to enact fair and permanent protections for DACA recipients.

Having secured both of those objectives, I am pleased to announce I will vote in support the tax reform bill.

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