Senate Passes Its Version of The "Tax Cuts & Jobs Act"

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Опубликовано 3 декабря 2017, 1:43
Senate Republicans got a big win when the final version of their tax reform bill passed, 51-49. The vote was largely along party lines: only one Republican, Sen. Bob Corker (R-TN), voted against it, and no Democrat voted in favor. The final text of the bill was not immediately available. That's because the bill, as submitted, went through several changes and amendments: those were added by hand in the margins. Democratic Senators complained those additions made the bill unreadable , with Sen. Bob Casey (D-PA), tweeting, “Any handwriting experts out there? I'd like to know what this says before they call for a vote. This is absurd.” Sen. Corker was the lone Republican who voted against the bill, reportedly due to concerns that the plan will increase the deficit. The Joint Committee on Taxation (JCT) posted the cost of the bill, called "Estimated Revenue Effects Of Modifications To The “Tax Cuts And Jobs Act,” As Reported By The Committee On Finance" early this morning. The total cost over 10 years? A net increase to the deficit of $1,447.8 trillion.
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