The Wider World

GOP tax overhaul bill passes the House

A TAX OVERHAUL bill passed the U.S. House of Representatives on Thursday.

An overhaul of federal taxes on persons and corporations passed the U.S. House of Representatives on Thursday. All 205 Democrats voted against the almost $1.5 trillion measure, and all but 13 Republican supported it.

The changes in the tax codes will now go to the Senate, where the Republicans hold a 52-48 edge.

House Republicans cheered the passage, but so did Democrats, feeling that the tax reform – which they say favors the rich over the poor and middle class – would be an important issue in the 2018 elections for all House and a third of the Senate seats.

“Passing this bill is the single biggest thing we can do to grow the economy, to restore opportunity and help those middle income families who are struggling,” said House Speaker Paul Ryan, a Wisconsin Republican.

“Republicans have brought forth a bill that is pillaging the middle class to pad the pockets of the wealthiest and hand tax breaks to corporations shipping jobs out of America,” said Nancy Pelosi of California, the House Minority Leader.

The Senate version includes an end to the insurance mandate under the Affordable Care Act – commonly known as Obamacare. If the Senate passes a bill, it will have to be “reconciled” – the differences ironed out – before it goes to the President to be signed.

 

 

 

 

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