U.S. Senate Paves the Way for Tax Cuts
One of Donald Trump's campaign pledges was revamping the tax system.
The Senate narrowly passed a budget blueprint for the next fiscal year that could lead to $1.5 trillion in tax cuts.
Senate lawmakers voted largely along party lines on Thursday, Oct. 19, to approve a 2018 budget blueprint that not only paves the way for tax cuts but also potentially allows for tax legislation to be passed by a simple Senate majority, giving Republican lawmakers a better chance to enact change without the help of their Democratic rivals.
The final vote was 51-49 with Sen. Rand Paul of Kentucky the lone opposing GOP vote.
One of Donald Trump's campaign pledges was revamping the tax system. He said Thursday that the budget "will be phase one of our massive tax cuts and reform."
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