September 20, 2017 / 12:18 AM / in a month

Republican Senators Corker, Toomey reach deal on budget resolution

FILE PHOTO: Senator Bob Corker (R-TN) speaks to reporters after the Senate approved $15.25 billion in aid for areas affected by Hurricane Harvey along with measures that would fund the federal government and raise its borrowing limit on Capitol Hill in Washington, U.S., September 7, 2017. REUTERS/Joshua Roberts

WASHINGTON (Reuters) - U.S. Republican Senator Pat Toomey and Bob Corker, both members of the Budget Committee, said on Tuesday they had reached an agreement on a budget resolution that would allow for tax cuts over a 10-year period.

“While each member of the caucus will have to make their own decision, I believe our agreement gives the tax writing committees enough headroom to achieve real tax reform that eliminates loopholes and lowers tax rates for hardworking Americans,” Corker said in a joint press release with Toomey.

Toomey said: “I am confident the budget agreement I have reached with Chairman Enzi and Senator Corker will give the Finance Committee the headroom needed to write a pro-growth tax plan that reforms the code, causes the economy to surge, and ultimately results in reduced federal budget deficits.”

Reporting by Eric Beech; Editing by Mohammad Zargham

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