Republicans appeared closer to securing enough votes to push through their tax reform bill on Thursday after Senator John McCain pledged his support.
It came as the US Senate began debating the Republican proposals on cutting taxes and overhauling the tax system.
Far from perfect
“I believe this legislation, though far from perfect, would enhance American competitiveness, boost the economy, and provide long overdue tax relief for middle class families,” said McCain in a statement.
Donald Trump’s election promises to cut taxes have been a major factor supporting equity markets this year, as investors continue to anticipate a fiscal boost for US and global economic growth.