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Senate Passes Republican Tax Overhaul

Senate Passes Republican Tax Overhaul

December 02, 2017 06:49 AM

WASHINGTON (AP) - The Senate has passed a nearly $1.5 trillion Republican tax bill that's historic in scope and an urgent political priority for President Donald Trump and the GOP.

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The vote was 51-49, largely along party lines. Not a single Democrat voted in favor of the legislation, which was crafted behind closed doors by Senate Republican leaders. Tennessee Sen. Bob Corker, who calls the growing debt a national security threat, joined Democrats in opposing the bill.

The bill lays the bulk of its tax cuts on businesses and higher-earning individuals and gives more modest breaks to others.

It would bring the first major overhaul of the U.S. tax system in three decades. The measure must be reconciled with a version the House passed last month.


WDIO

Copyright 2017 The Associated Press. All rights reserved.

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