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Article snippet: WASHINGTON — Senate Republicans, abandoning a key fiscal doctrine, agreed on Tuesday to move forward on a budget that would add to the federal deficit in order to pave the way for a $1.5 trillion tax cut over the next 10 years. The Republican lawmakers, under mounting pressure to score a legislative win on taxes, say a tax cut of this magnitude will stimulate economic growth enough to offset any deficit impact. Yet critics say a deficit-financed tax cut is at odds with longstanding Republican calls for fiscal discipline, including that tax cuts not add to the ballooning federal deficit. The federal debt topped $20 trillion earlier this month and is projected to grow by another $10 trillion over the next decade. Senator Bob Corker of Tennessee, who considers himself a strict deficit hawk, said he remains deeply concerned about enacting tax cuts that add to the deficit. But he suggested that Republicans may not solely rely on traditional estimates of a bill’s costs. Republicans have recently voiced concern that some estimates, including those from the Joint Committee on Taxation and the Congressional Budget Office, undervalue the effect of economic growth. In announcing the agreement, Mr. Corker insisted that he was not casting away his concern about the debt. “My support will be contingent on a final package that generates significant economic growth and does not worsen, but hopefully improves our fiscal situation,” Mr. Corker said of the tax plan. An agreement on... Link to the full article to read more