Sen. Bob Corker announced late Friday afternoon that he would vote against the Senate version of the tax bill because of its impact on the federal deficit, making him the only declared GOP "no" vote on the tax overhaul.
It appeared that Senate Majority Leader Mitch McConnell had secured the votes of all other members of his conference.
"I am disappointed. I wanted to get to yes," the Tennessee Republican said in a statement. "But at the end of the day, I am not able to cast aside my fiscal concerns and vote for legislation that I believe, based on the information I currently have, could deepen the debt burden on future generations."
Corker added that he called President Trump, with whom he has recently traded insults, to inform him he would be voting against the bill. He also said that he would consider voting for the bill after it is changed in conference.
The self-described deficit hawk lost a battle within the GOP Thursday night over the deficit impact of the bill. Following the release of an official analysis finding that the bill would add $1 trillion to deficits even after accounting for faster economic growth, Corker sought to add back in hundreds of billions of dollars of revenue.
The rest of his conference decided to proceed without that additional revenue, ultimately without Corker's support.
A member of the Senate Budget Committee, Corker was part of the original deal that limited the total size of the tax cut for procedural purposes to under $1.5 trillion. He had argued that it would be possible to come up with a tax cut that size that paid for itself by generating economic growth sufficient to bring in new revenue to the government, offsetting the tax cut.