House Passes $1.5 Trillion Tax Bill In Major Win For GOP; Senate To Vote Soon
WASHINGTON (AP) - The House has passed the most sweeping rewrite of the nation's tax laws in more than three decades.
The bill now goes to the Senate for an expected vote soon.
The House approved the bill by a mostly party line vote of 227-203. The bill represents the first major legislative victory for President Donald Trump.
The $1.5 trillion package would provide steep tax cuts for businesses and the wealthy and more modest cuts for middle- and low-income families. The business tax cuts would take effect in January. Workers would start to see changes in the amount of taxes withheld from their paychecks in February.
The bill would nearly double the standard deduction used by most taxpayers, while those who itemize would lose some deductions.
House Speaker Paul Ryan is hailing the Republican tax package, saying "today, we give the people of this country their money back."
It was the realization of Ryan's years-long work on tax policy.
Protesters disagreed.
On woman yelled from the visitors' gallery: "You're lying. You're lying. Only rich will benefit."
She was escorted out of the chamber by Capitol Police.
Another woman told the Wisconsin Republican he needs to learn math.
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