Sen. Rand Paul (R-KY) is pushing to slash the corporate tax rate, among other tax changes, as the Senate begins the marathon voting process for the One Big Beautiful Bill Act.

Paul introduced an amendment to lower the headline corporate rate to 15% from 21% as part of the Senate’s so-called “vote-a-rama,” which began on Monday morning and is expected to stretch into Monday evening or even early Tuesday morning.

Recommended Stories

• Canada caves to Trump on digital services tax as countries set to resume trade talks
• July Social Security direct payment worth $967 goes out in one day
• First round of July Social Security payments goes out in nine days

He also filed amendments to repeal the estate tax and increase the debt ceiling to $500 billion, lower than the $5 trillion increase in the Senate’s text of the One Big Beautiful Bill Act.

During vote-a-rama, senators from both parties can offer amendments to the GOP megabill. Most of the amendments will likely fail, and many, particularly those from Democrats, are used as messaging vehicles.

BIG, BEAUTIFUL VOTE-A-RAMA AMENDMENTS: WHAT HAS BEEN PROPOSED, AND DID THEY PASS OR FAIL?

The corporate tax rate was lowered from 35% to 21% in 2017 as part of the Tax Cuts and Jobs Act, and that lower rate was made permanent, meaning that it doesn’t have to be extended during the current reconciliation process.

The lower corporate rate was one of the biggest growth drivers included in the 2017 tax law. If Paul’s amendment were to pass, it would be hailed by Wall Street and many economists, who argue that lower taxes on corporations and businesses spark investment and economic expansion.

GOP BRACES FOR DEMOCRATIC ‘VOTE-A-RAMA’ BLITZ AS SENATE NEARS FINAL VOTE ON ‘BIG, BEAUTIFUL BILL’

Notably, before the election, President Donald Trump talked about cutting the headline corporate tax rate from 21% to 20% at one point and endorsed reducing it to 15% for companies that make their products in America.

The current text of the One Big Beautiful Bill Act being amended this week doesn’t include changes to the headline 21% corporate tax rate. The Senate did make some key business tax cuts permanent.

CBO SAYS ‘BIG, BEAUTIFUL BILL’ WILL ADD $3.3 TRILLION TO DEFICIT

Specifically, the Senate bill would permanently allow companies to deduct domestic research and development costs immediately. It would also permanently allow full expensing for new capital investment, such as factory machinery, and restore interest deductibility to help finance investments.

The business provisions are a key priority for lawmakers because incentives for businesses are thought to be especially helpful in boosting economic growth. In theory, they could help make the bill less costly to the Treasury Department, because with the increased growth comes increased revenue capture.