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U.S. Senate passes Trump’s drastic tax reform legislation

Dec 20, 2017, 6:04 AM EST
U.S. President Donald Trump headed for his first major legislative victory.
(Source: Michael Vadon/flickr)

U.S. President Donald Trump stands on the verge of sealing his first major legislative victory as the Senate approved a $1.5 trillion tax bill with the most sweeping overhaul of the country’s tax code since 1986.

The legislation, passed by 51-48 votes, will be resent to the House of Representatives owing to an embarrassing procedural foul-up by Republicans, notes Reuters.

The bill, which slashes corporate taxes from 35% to 21% along with providing temporary tax relief to working American individuals and families, drew sharp criticism from Democrats for its design that “benefits the ultra-rich” at the cost of national deficit, writes the BBC.