A key GOP senator who helped sink Obamacare repeal has 2 demands for the tax bill

RepublicanSen. Susan Collins told Bloomberg that she has two stipulations to support the GOP's tax bill.Collins wants the estate tax to remain and no tax cuts for people making $1 million a year.The demands could throw a wrench in Republican tax reform negotiations.Sen. Susan Collinson Monday said she would have two demandsto support the forthcoming Republican tax reform bill.Collins, a moderate member of the Senate GOP conference, told Bloomberg's Sahil Kapur on Monday that the tax plan should not repeal the estate tax or changetax rates on people making more than $1 million a year."I do not believe that the top rate should be lowered for individuals who are making more than $1 million a year," Collins told Bloomberg. I dont think theres any need to eliminate the estate tax."The estate tax currently applies to inheritancesof more than $5.49 million, and that limit will be increased to $5.60 million for individuals in 2018. Despite Republicans' insistence thatthe repeal is aimed at small businesses and family farms, very few of either pay the tax.The demands from Collins are important, since Republicans only control 52 seats in the Senate. While the tax billis set togo through the budget reconciliation process, meaning it only needs 50 votes to pass, Republican leaders can only afford to lose two members of their conference.Collinsvoted against various Republican Obamacare repeal billsover the summer and has made it apparent that she isnot afraidto vote against leadership's wishes.Already a handful of Republican senators, most notably Sen. Bob Corker, have raised concerns about the plan's potential effecton the federal deficit. Sen. Rand Paul said he also had reservations about the distribution of the benefits from the plan.Despite the demands, Collins told Bloomberg that she hopes to vote for the tax package."I hope very much to be able to support a tax reform package," Collins said, but added she can't guarantee she will because she doesn't know "whats going to be in it."SEE ALSO:A key homebuilders' group is now opposing the Republican tax plan ' and it's a sign of trouble to comeJoin the conversation about this storyNOW WATCH: Construction has started on a prototype of Trump's border wall
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