Sen. John McCain said this morning that he would vote in favor of the Republican tax bill. Grover Norquist is the founder and president of Americans for Tax Reform to explain why he's optimistic the bill will pass.
Norquist, who has been bullish on the bill all along, says the fact that McCain's made his announcement now, not later, means "we will have a signed bill for Christmas." He also points out how well the stock market has reacted to McCain's announcement.
Norquist also says that Americans shouldn't be concerned about the rapid passage of the legislation because "the Senate has had 70 hearings on this bill alone." During the vote, in fact, The anti-tax crusader thinks we may see a handful of Democrats who decide to associate themselves with the bill.
Senators Bob Corker (R-TN) and James Lankford (R-OK) want to add a trigger to the bill that would repeal certain tax cuts if growth is weaker than expected. Norquist says the danger of adding a trigger is, "it tells people, please invest $100, million in a new factory. And look at our shiny new tax code. Maybe. Sort of. It might change."
The vote is expected Thursday night or early Friday morning.