The Senate Just Passed Tax Reform. What’s Next? The Senate Just Passed Tax Reform. What’s Next? – NTK Network

The Senate Just Passed Tax Reform. What’s Next?

A big win for the GOP will lead to tax cuts for millions of Americans. What are the final steps?

By NTK Staff | 12.03.2017 @10:49am
The Senate Just Passed Tax Reform. What’s Next?

Senate Republicans passed their tax plan early Saturday morning, clearing a major legislative hurdle for one of the GOP’s signature campaign issues.

In a 51-49 vote, the Senate passed their version of the tax bill. All Democrats voted against the tax cuts for American families. Sen. Bob Corker (R-TN) was the only Republican to oppose the bill, following his recent feuds with President Trump.

The question is now: what comes next?

There are a few minor differences between the House and Senate tax bills, and they will have to be worked out in conference committee. For instance, the Senate bill includes a repeal of Obamacare’s individual mandate, and the two bills treat college costs differently.

After the conference committee crafts a compromise bill, the new legislation will have to pass both chambers again. When that happens, the bill will go to the president’s desk for final passage into law.

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