Oct 30, 2017

Collins opposes estate tax repeal, cut to top tax rate

Photo: Andrew Harnik / AP

Sen. Susan Collins, a moderate Republican who opposed the GOP health care plan, has set her terms for a "yes" vote on tax reform, Bloomberg's Sahil Kapur reports.

  • She doesn't want tax rate to be cut for people making over $1 million per year. The original framework floated last month cut the top rate from 39.6% to 35%, but a "million dollar bracket" is already being discussed in the House.
  • She doesn't want the estate tax repealed. This may be trickier, as Trump has publicly backed a repeal.

Why it matters: Collins' support is key because leadership can only afford to lose two votes in the Senate. She said she hopes to ultimately vote "yes" on tax reform.

Go deeper