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House passes tax cuts



House passes tax cuts

By a 227 to 205 vote, the House passed the GOP’s tax cut package. That was the easy part. Now they have to try to pass a tax cut in the Senate.

If they can pull it off, it would be the first major piece of legislation Congress has been able to put on President Trump’s desk since he took office. After failures with Obamacare repeal, passing these tax cuts is an absolute must. It doesn’t matter whether it was rushed, sloppy, or directly contrary to many traditional Republican policies. They need a bill signed before heading into the 2018 midterm elections.

Watch Speaker of the House Paul Ryan make his plea before Congress:

Further Reading

BREAKING: Voting Results Are In From Tax Reform Bill Vote House of Representatives passed a massive tax reform bill on Thursday aimed at cutting taxes for businesses and individuals, which is a major step in the Trump administration’s effort to overhaul the tax system.

The bill, which passed with “227 votes in favor and 205 against,” had to survive opposition from several House Republicans as 13 of its members ultimately voted against the plan.

House Passes Tax Bill ago, the House passed its version of tax reform, which expands the standard deduction, shrinks the amount of individual tax brackets from seven to four, and cuts the corporate tax rate from 35 percent to 20 percent. The vote was 227–205, with 13 Republicans voting against the bill and no Democrats voting for it.

All but one of the Republicans who voted against the bill represent California, New York, or New Jersey, states with high income-tax rates whose residents could be affected by the elimination of the state-and-local-tax deduction. The onus now falls on the Senate to pass its version of tax reform, and on Republicans to negotiate the differences between the two bills.

House easily passes $1.4 trillion tax cut Democrats backed the bill.

“This is the most irresponsible bill I will have been confronted with in 37 years,” said Rep. Steny H. Hoyer, a Maryland Democrat who said the massive deficits — as much as $2 trillion, when interest costs and other extensions are included — are a betrayed of what Republicans have long argued for