TRUMP GETS TAX WIN: Senate passes major tax reform legislation in significant win for Trump administration
The U.S. Senate voted just before 2 a.m. ET Saturday to pass a sweeping tax overhaul worth roughly $1.4 trillion, putting the Trump White House a big step closer to its first major legislative victory – and many Americans closer to a tax cut.
The vote was 51-49, with Republican Bob Corker of Tennessee the only member of the GOP to side with the Democrats in opposition.
Not long after the vote, President Donald Trump tweeted his reaction:
"We are one step closer to delivering MASSIVE tax cuts for working families across America," the president wrote. "Special thanks to @SenateMajLdr Mitch McConnell and Chairman @SenOrrinHatch for shepherding our bill through the Senate. Look forward to signing a final bill before Christmas!"
House Minority Leader Nancy Pelosi, D-Calif., also responded, calling the legislation a "betrayal of the American middle class."
“The GOP tax scam is a product of haste, carelessness and cruelty," Pelosi wrote. "It was written on Republicans’ trickle-down delusions, not analysis or facts. It was written first and foremost for the wealthiest one percent, not middle class families trying to get ahead."
The bill is not yet finalized. Saturday's vote means the Senate and House have passed similar tax reform plans, but negotiators from both chambers will start meeting Monday to agree on a single piece of legislation that both chambers must approve before it is sent to the president for his signature.