Tax Reform Passes Congress

The Tax Cuts and Jobs Act passed the House yesterday on a 227 – 203 margin. 12 Republicans voted against the bill, which has been endorsed by Republican leadership. The Senate passed the bill early this morning on a 51 – 48 margin. John McCain (R-Arizona) could not vote for the bill because he was recovering from cancer treatment.

The bill has to go back to the House for a second vote, which is expected this afternoon. The reasoning for this is that the bill had violated the Byrd Rule, meaning it would need 60 votes to pass the Senate.

The full text of the bill can be read here.

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Holden is the creator of He is the lead editor and consistently writes about politics and finance. He often writes unbiasedly, but occasionally provides a liberal viewpoint in his work.
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