Senate passes sweeping GOP tax bill

Tax bill

          The Senate voted along party lines after midnight Tuesday to pass a sweeping $1.5 trillion tax bill that slashes tax rates for corporations, provides new breaks for private businesses and reorganizes the individual tax code. The House passed the bill earlier Tuesday, but technical changes were made to it in the Senate, and the bill will go back to the House on Wednesday for a revote, where it is expected to pass again. It will then head to the President’s desk for his signature before the Christmas holiday, making good on the Republican Party‘s promise to enact tax relief by the end of the year.

 

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