The Senate just passed major tax reform. With 51 Republican votes, the Senate approved a tax cut for many Americans early Saturday. It would almost double the standard deduction and overhaul the corporate rate, cutting it nearly in half. At current spending patterns, it would add nearly $1 trillion the deficit over the next 10 years.
The Senate had to rewrite the legislation Friday evening in order to get 51 votes.
President Donald Trump praised the passage of the legislation on Twitter.
We are one step closer to delivering MASSIVE tax cuts for working families across America. 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! pic.twitter.com/gmWTny3SfS
— Donald J. Trump (@realDonaldTrump) December 2, 2017
He also tweeted before that as well. The President was watching this legislation like a hawk.
“We are one step closer to delivering MASSIVE tax cuts for working families across America. 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!”
“It was extended conversations that went on into the late hours of the night and continued early in the morning,” Texas Sen. Ted Cruz remarked about the negotiations on Friday.
Cruz later gave the The Daily Caller a remark after the bill passed. “Tonight was a terrific victory for the American people. It was a victory for job creators. It was a victory for small businesses for farmers for ranchers. For hard-working American families that want to see more jobs want to see higher wages and more opportunity. This tax bill is a historic tax cut designed to bring back jobs to raise wages and to help the American family.”
Chuck Schumer, just the worst politician ever, and also the Senate Minority Leader, chimed in.
“I remember a few years back, when my Republican colleagues gleefully scolded us to ‘read the bill’ because the Affordable Care Act was a lengthy piece of legislation – and that bill was available for days before anyone had to vote on it. With this stunning deception…with this reckless ramrodding of a bill…Republicans are reaching heretofore unreached heights of hypocrisy, and the Senate is descending to a new low of chicanery. Read the bill? They’re still writing it by hand, mere hours before voting on it.”
That’s politics I guess. Maybe if you stopped paying sexual assault settlements with tax dollars, we wouldn’t be so angry at you all.
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