Republican Senator Breaks Rank, Says He Won't Support GOP Tax Overhaul
At least two other GOP senators are on the fence about whether or not they'll vote for the tax bill.LEARN MORE
The House passed its Tax Cut and Jobs Act, which could be the first major shake-up to the U.S. tax system in over 30 years.
House Republicans officially passed the party's massive tax overhaul bill.
The House voted 227 to 205 on Thursday to approve the legislation, which could be the first major shake-up to the U.S. tax system in over 30 years.
The bill, dubbed the Tax Cuts and Jobs Act, was introduced earlier this month.
And it aims to make some pretty big changes, like cutting the corporate tax rate, reducing the number of individual tax brackets and capping the mortgage interest deduction for newly purchased homes.
Thursday's vote was a victory for the GOP. But getting the bill through the House was just the first step.
The legislation now heads to the Senate, where lawmakers are currently working on their own tax reform bill. If the Senate passes its bill, the two chambers will have to reconcile the differences in conference.
This short-term bill agreement really just puts a Band-Aid on an issue that was supposed to be resolved last year.
Sen. Tammy Duckworth, a Democrat from Illinois, had called on the Senate to pass the Access to Family Building Act by unanimous consent.
McConnell said he plans to serve out the remainder of his Senate term, which ends in January 2027.
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