BREAKING : Senate Passes Sweeping Revision of U.S. Tax Code - Kedai Saham
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Sunday, December 3, 2017

BREAKING : Senate Passes Sweeping Revision of U.S. Tax Code

BREAKING : Senate Passes Sweeping Revision of U.S. Tax Code

The Senate passed sweeping revisions to the U.S. tax code after Republicans navigated a thicket of internal divisions over deficits and other issues to place their imprint on the economy.

The bill, which included about $1.4 trillion in tax cuts, would lower the corporate rate to 20% from 35%, reshape international business tax rules and temporarily lower individual taxes.

"In the end it all came together and we're pretty excited about what we've been able to accomplish for the American people," Senate Majority Leader Mitch McConnell (R., Ky.) said in an interview Friday.

The bill passed 51-49, with all but one Republican voting for it and all Democrats voting against.

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