US Senate passes tax rewrite

“The Senate passed the most sweeping tax rewrite in decades early Saturday, with Republicans lining up to approve an overhaul that will touch almost every corner of the United States economy, affecting families, small business owners and multinational corporations, with the biggest benefits flowing to the highest-earning Americans,” the New York Times reports.

“Senators voted 51-49, as Republicans approved the nearly 500-page bill in the early morning hours after lawmakers received a rewritten version, which contained significant changes from the original bill that passed two Senate panels last month along party lines. The last-minute revisions prompted an outcry from Democrats, who said it was impossible — and irresponsible — for lawmakers to read and digest a significant piece of legislation in such a short period of time.”

Washington Post: “This time, urged on by donors and fearful of facing voters in next year’s midterm elections without a legislative achievement to show, Republicans said time and again that failure was not an option.”

Source:AFP