WASHINGTON (Reuters) - Senate Majority Leader Trent Lott on Sunday predicted the U.S. Senate would approve a $1.35 trillion 11-year tax cut by an overwhelming margin on Monday, aided by the support of 10 or more Democrats.
"It will pass," the Mississippi Republican told NBC's "Meet the Press" program. "I believe overwhelmingly."
The Senate is scheduled to continue debate and vote on the compromise Senate tax cut package, which cuts income tax rates across-the-board and gives taxpayers a break this year, on Monday. The bill's sponsors have been striving to keep a fragile coalition of backers from fracturing and have warned lawmakers against making major changes in the bill.
Lott said he did not particularly like the compromise Senate tax cut bill, but was happy that lawmakers had been able to agree on broad-based tax cuts for Americans.
He praised the efforts of Sen. Max Baucus, a Montana Democrat, who sits on the Senate Finance Committee, and committee Chairman Charles Grassley, an Iowa Republican, in forging the compromise tax package.
Lott said he had expected about 10 Democrats to support the legislation, but now believed even more could rally behind the bill.
"And I think a lot of credit goes to Chuck Grassley, the chairman, and Max Baucus, the ranking Democrat. They worked together," Lott said.
"The main thing is this is a broad-based tax relief package for working Americans. It'll help the economy. It'll help families with children," Lott told NBC. "We should do it and the Senate should have it done by about sundown Monday."
The Senate compromise bill would lower income tax rates across the board, including cutting the top 39.6 percent rate to 36 percent. That is a far smaller reduction than the 33 percent top rate sought by President Bush in his original $1.6 trillion tax cut proposal. Conservative Republicans have vowed to push for the president's request.
©Reuters May 20 2001 8:06PM