The final negotiated version of the GOP tax plan has now passed both the House and the Senate. It passed the House yesterday by a margin of 227 to 203, and hours later passed the Senate by a margin of 51 to 48. In each case, the bill was passed strictly along party lines.
This is, by all accounts, the most significant tax code overhaul in decades.
The measure has one more procedural issue, apparently two provisions or the House bill do not comply with budget rules that were used to overcome a Democratic filibuster. However, a new vote is expected this morning. Then it heads to the White House for signature by the President.
President Trump has said that if the House passes the new version, he will hold a press conference at 1 pm today.
Senate Majority Leader Mitch McConnell said “[It will] deliver historic tax relief to American families. It will help put our country on a trajectory toward more innovation and better-paying jobs. It will repeal an unfair tax at the center of ObamaCare and will help America achieve greater energy security.”
This is the first major piece of legislation passed by the Trump Administration, and one that will affect almost every American.
The major provisions were covered here.