BREAKING : Senate Approves Historic Tax Cut in 51-48 Vote

BREAKING : Senate Approves Historic Tax Cut in 51-48 Vote

Congress stands on the cusp of passing a $1.5 trillion tax cut and the largest structural overhaul of the tax system since 1986.

The Senate passed the tax-overhaul bill, 51-48, early Wednesday morning, hours after it sailed through the House on a 227-203 vote. A last-minute glitch because of Senate rules forced Republican leaders to schedule another vote in the House for Wednesday morning. The result isn't likely to be any different, and the measure will head to President Donald Trump for his signature, though no date has been set.

The Senate vote was purely along party lines, with Sen. John McCain (R., Ariz.) absent. In the House, every Democrat who was present voted no, as did 12 Republicans, almost all from high-tax states.

Impact : Strong 

Sentiment : Good for Dollar

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