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U.S. Senate Set To Debate House's Tax Cut Bill

Lawmakers are back on Capitol Hill after the Thanksgiving break, and the U.S. Senate is set to debate the House’s tax cut bill.

But are Arizona’s two GOP senators on board?

Jeff Flake is optimistic that enough changes will be made to the House version for the Senate to go along as well.

“I think by the end of the year, we’ll have it. I think substantively we’ve got to certainly lower the corporate rate, we’ve got to be competitive globally and you know, Republicans have to deliver on something," Flake said.

Both Flake and John McCain though have raised concerns over the proposal’s apparent impact, which would result in adding more than a trillion dollars to the federal debt.

But McCain believes despite that the benefits of the tax cuts will eventually outweigh the risks.

"I am concerned about it, but I also know that we have the highest corporate taxes on Earth, which is keeping a couple of trillion dollars overseas. I’d like to see that money come back and invested in infrastructure," McCain said.

The Senate could vote on the tax cut plan as soon as this week.