Sen. Bob Corker Robert (Bob) Phillips CorkerHas Congress captured Russia policy? Tennessee primary battle turns nasty for Republicans Cheney clashes with Trump MORE (R-Tenn.) said Friday that he will support the GOP tax plan, all but guaranteeing that Republicans will have the votes needed to pass their tax bill next week.

Corker said that the final legislation represents a "once-in-a-generation opportunity." His decision is a reversal from the Senate tax plan passed earlier this month, which he opposed over concerns that the bill would not pay for itself and would add to the deficit.

"I know every bill we consider is imperfect and the question becomes is our country better off with or without this piece of legislation. I think we are better off with it. I realize this is a bet on our country’s enterprising spirit, and that is a bet I am willing to make," Corker said in a statement Friday.

He added that "after many conversations over the past several days with individuals from both sides of the aisle across Tennessee and around the country ... I have decided to support the tax-reform package we will vote on next week."

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GOP leadership and administration officials have been working with Corker to try to get him to support the final tax legislation despite his previous insistence that he would not vote for a plan that adds "one penny's worth of deficits."

The White House said President Trump Donald John TrumpBiden on Trump's refusal to commit to peaceful transfer of power: 'What country are we in?' Romney: 'Unthinkable and unacceptable' to not commit to peaceful transition of power Two Louisville police officers shot amid Breonna Taylor grand jury protests MORE expressed personal appreciation for Corker's support, indicating that the GOP senator had reached out by phone about his decision.

"The President greatly appreciates Senator Corker’s phone call and pledge to support tax cuts. He sees a great entrepreneurial spirit being released in our country and he is a part of that spirit. When these massive tax cuts and incentives kick in, jobs and growth will follow at a very high level," White House press secretary Sarah Huckabee Sanders said in a statement.

With Corker's support, Senate Republicans likely have the votes needed to pass their tax bill next week even as they face potential absences from some members, including Sen. John McCain John Sidney McCainThe Memo: Trump's strengths complicate election picture Mark Kelly: Arizona Senate race winner should be sworn in 'promptly' Cindy McCain: Trump allegedly calling war dead 'losers' was 'pretty much' last straw before Biden endorsement MORE (R-Ariz.), who is being treated at Walter Reed Medical Center.

Sen. John Cornyn John CornynThe Hill's Campaign Report: GOP set to ask SCOTUS to limit mail-in voting Liberal super PAC launches ads targeting vulnerable GOP senators over SCOTUS fight Senate GOP faces pivotal moment on pick for Supreme Court MORE (R-Texas) hinted earlier Friday that Corker could be a "yes" on the tax deal, saying there could be a "surprise" on who supports the legislation.

"I was thinking specifically about Sen. Corker who did not vote for the Senate bill, who we are working with and I think is encouraged by the direction that this House-Senate conference is going in," Cornyn told KSKY, a Texas radio station.

Corker acknowledged Friday that the tax deal, a compromise proposal that merges the House and Senate bills, "is far from perfect."

"Left to my own accord, we would have reached bipartisan consensus on legislation that avoided any chance of adding to the deficit and far less would have been done on the individual side with items that do not generate economic growth," he said.

Republicans have a 52-seat majority, meaning they can only afford to lose two GOP senators, if every Democrat and independent votes "no," and still permit Vice President Pence break a tie.

McCain and Sen. Thad Cochran William (Thad) Thad CochranEspy wins Mississippi Senate Democratic primary Bottom Line Mike Espy announces Mississippi Senate bid MORE (R-Miss.) missed Senate votes this week. But Cochran's office noted that he will be back next week to vote for the tax plan.

GOP Sens. Mike Lee Michael (Mike) Shumway LeeMcConnell shores up GOP support for coronavirus package McConnell tries to unify GOP Davis: The Hall of Shame for GOP senators who remain silent on Donald Trump MORE (Utah), Susan Collins Susan Margaret CollinsClub for Growth to spend million in ads for Trump Supreme Court nominee Maryland's GOP governor says Republicans shouldn't rush SCOTUS vote before election The Hill's Morning Report - Sponsored by Facebook - GOP closes ranks to fill SCOTUS vacancy by November MORE (Maine) and Jeff Flake Jeffrey (Jeff) Lane FlakeHow fast population growth made Arizona a swing state Jeff Flake: Republicans 'should hold the same position' on SCOTUS vacancy as 2016 Republican former Michigan governor says he's voting for Biden MORE (Ariz.) have yet to say if they will support the final agreement, but they each voted for the Senate legislation.

– Jordan Fabian contributed

Updated: 4:08 p.m.