Senate passes tax bill, sending it back to House

Senate Majority Leader Mitch McConnell (R-KY) and Senate Finance Committee chairman Orrin Hatch (R-UT) arrive at the press conference after the senate vote of the tax reform bill on December 20, 2017 in Washington, DC. The Senate has passed the tax reform bill and it will return to the House of Representatives for final approval. (Photo by Tasos Katopodis/Getty Images)

WASHINGTON — Senate Republicans have passed the most sweeping rewrite of the nation’s tax laws in more than three decades, setting the stage for a final House vote Wednesday.

The House passed the bill earlier Tuesday. But the Senate had to make minor changes so the bill would comply with Senate budget rules.  The Senate vote was 51-48 on early Wednesday, with all Republicans in favor and all Democrats opposed.

Rewriting the tax code has been a longtime goal of Republicans and an effort championed by President Donald Trump.

Democrats complain that the package is a giveaway to corporations and the rich.

The tax cuts total nearly $1.5 trillion over the next decade and would take effect in January. Workers would start to see changes in the amount of taxes withheld from their paychecks in February.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s