Tax win for Trump
washington — Republicans pushed a nearly $1.5 trillion tax bill through the Senate early on Saturday after a burst of 11thhour 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, 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.”
Presiding over the Senate, VicePresident Mike Pence announced the 51-49 vote to applause from Republicans. Senator Bob Corker, R-Tenn., was the only lawmaker to cross party lines, joining the Democrats in opposition. 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.
“Obviously I’m kind of a dinosaur on the fiscal issues,” said Corker, who battled to keep the bill from worsening the government’s accumulated $20 trillion in IOUs. The Republican-led House approved a similar bill last month in what has been a stunningly swift trip through Congress for complex legislation that impacts the breadth of American society. The two chambers will now try crafting a final compromise to send Trump. —