Sat. 2 a.m.: Senate passes tax reform bill, 51-49
WASHINGTON (AP) — Republicans pushed a nearly $1.5 trillion tax bill through the Senate early today after a burst of eleventh-hour horse trading, as a party starved all year for a major legislative triumph took a giant step toward giving President Donald Trump one of his top priorities by Christmas.
“Big bills are rarely popular. You remember how unpopular ‘Obamacare’ was when it passed?,” Senate Majority Leader Mitch McConnell, R-Ky., said in an interview, shrugging off polls showing scant public enthusiasm for the measure. He said the legislation would prove to be “just what the country needs to get growing again.”
Senate approval came on a 51-49 roll call with Sen. Bob Corker, R-Tenn., the only lawmaker to cross party lines. The measure focuses its tax reductions on businesses and higher-earning individuals, gives more modest breaks to others and offers the boldest rewrite of the nation’s tax system since 1986.
Republicans touted the package as one that would benefit people of all incomes and ignite the economy. Even an official projection of a $1 trillion, 10-year flood of deeper budget deficits couldn’t dissuade GOP senators from rallying behind the bill.
Read more in today’s Tribune Chronicle.