Senate Passes Biggest Tax Overhaul in Decades
Now there’s time to read it. After a string of Republican legislative disappointments, all but one GOP senator voted to pass a sweeping tax overhaul, 51-49, early today, after Republicans wrestled over last-minute changes to its 500 pages into the night to satisfy holdouts. The result permanently cuts corporate taxes from 35 to 20 percent and provides temporary cuts for about 70 percent of middle class families. Now the House and Senate must reconcile their different bills in a joint committee, and both chambers vote again before the bill goes to the president.
