Senate votes to advance $1.4 trillion tax cut bill

Wednesday, November 29, 2017 | Tag Cloud Tags: , , , , ,

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(Worthy News) - The Senate voted Wednesday to open debate on a $1.4 trillion tax bill after Republican leaders worked out preliminary deals to the smooth over the concerns of several Republican lawmakers.

The final tally was 52-48, passing strictly along party lines. The vote means the bill is now open to debate and unlimited amendments, several of which are expected to win approval and become part of the base bill.

The base legislation lowers corporate and individual tax rates while ending many deductions. It also effectively repeals Obamacare’s mandate to purchase health insurance by eliminating the fine for not having coverage.

Senate Republicans hope to pass the bill this week. [ Source: Washington Examiner (Read More...) ]

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