Senate Passes $4 Trillion Budget, Eyes Tax Reform Next

J. Scott Applewhite / AP
Like
Like Love Haha Wow Sad Angry

The Senate on Thursday passed a Republican budget resolution that would pave the way to use a special procedural rule to consider tax reform later this year.

The $4 trillion budget blueprint passed 51-49, with all Democrats and one Republican, Sen. Rand Paul of Kentucky, voting against it, saying the budget “simply didn’t measure up and spent too much.”

The vote sets the stage for debate later this year to dramatically overhaul the U.S. tax code, cutting rates for individuals and corporations while clearing away trillions of dollars’ worth of deductions and special-interest tax breaks.

Senate Majority Leader Mitch McConnell said on Twitter with the budget resolution passed “it’s time to take advantage of this once-in-a-generation opportunity & pass #TaxReform.”

The bill now goes to the House, which is expected to pass it without having to negotiate a compromise bill, a process called “going to conference.”

 

read more at nbcnews.com

What Are Your Thoughts?

comments

About Chuck Berry

Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!

Related posts

TedsWoodworking Plans and Projects