For final approval, it must go back to the House for a procedural issue before it can be sent to the White House for the President to sign it into law
Senate Republicans yesterday passed a sweeping overhaul of the US tax code in more than 30 years, bringing President Donald Trump closer to scoring his first major legislative victory amid criticism that the package disproportionately benefit the wealthy and corporations. The Senate-approved $1.5-trillion tax bill, which includes permanent tax breaks for corporations and temporary tax cuts for individuals, by a final vote of 51-48. The House of Representatives had earlier approved the bill comfortably. In the House, it was passed by 227 to 203 votes. Republicans have majorities in both houses of Congress.
The bill is set to return to the House of Representatives for final approval; (right) Senate Majority Leader Senator Mitch McConnell (R-KY) speaks to the press after the passing of the bill. Pics/AFP
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For final approval, the legislation must go back to the House for a procedural issue before it can be sent to the White House for the President to sign it into law. Once enacted, the legislation will represent the most drastic changes to the US tax code since 1986. The bill was passed along party lines, with every Senate Republican present voting in its favour and all Democrats voting against it. "After years of work, we are going to enact the most sweeping, pro-growth overhaul of our tax code in a generation. Americans are going to see relief almost immediately in the form of bigger paychecks and lower taxes," said Congressman Paul Ryan, Speaker of the US House of Representatives.
USD1.5TN Amount of the tax bill
51 Number of pro votes
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