WASHINGTON, D.C. — The United States Senate passed its tax reform bill early Saturday morning, following a day full of Republican leaders making changes to bring enough members on board. The vote was 51-49. Sen. Bob Corker of Tennessee was the only Republican to vote against the bill, citing concerns about growing the deficit.
We are one step closer to delivering MASSIVE tax cuts for working families across America. Special thanks to @SenateMajLdr Mitch McConnell and Chairman @SenOrrinHatch for shepherding our bill through the Senate. Look forward to signing a final bill before Christmas! pic.twitter.com/gmWTny3SfS
— Donald J. Trump (@realDonaldTrump) 2 december 2017
President Trump and the Republican Party has stuck to their motto of “Make America Great Again.”
Two key interest points are (1.) lower the corporate tax rate from 35 per cent to 20 per cent, and (2.) modest tax cuts aimed at individuals across all income levels.
The Senate version and one passed recently by the House of Representatives must now be reconciled into a single bill, and approved again by both chambers, before it can be signed into law.