US Senate Republicans grant Trump's wish, approve tax reform bill
US Senate Republicans narrowly passed landmark tax reform early Saturday, a critical step toward delivering a monumental legislative victory for President Donald Trump in his first year in office.
- World
- DPA
- Published Date: 12:00 | 02 December 2017
- Modified Date: 11:17 | 02 December 2017
The US Senate early Saturday passed tax reform legislation desperately sought by President Donald Trump, who had yet to win a major legislative victory.
The 51-49 vote followed hours of debate in which minority Democrats complained bitterly that the tax reform benefits wealthy taxpayers at the expense of middle income families.
Republican Senator Bob Corker was the only lawmaker to vote against his party's line.
Trump had urged the Senate, where his Republican Party has a slim minority, to pass the 1.5-trillion-dollar bill. The move is a step in the process
The bill represents the biggest tax reform bill in three decades. It lowers the corporate tax rate from 35 per cent to 20 per cent, a key provision that Trump and many fellow Republicans said would result in US companies creating jobs and investing in the United States.
The bill now must be reconciled with a version that passed the House of Representatives and then returned to both chambers for passage before being forwarded to Trump for his signature.
It would fulfil a campaign promise Trump made during last year's campaign and give the president his first major legislative victory.