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Senate passes Trump tax reforms

The Senate passed the Trump reforms early Saturday morning, with a 51-49 vote.

“This is a great day for the country,” Majority Leader Mitch McConnell (R-Ky.) said during a 2 a.m. press conference after the vote, “We have an opportunity now to make America more competitive, to keep jobs from being shipped offshore and to provide substantial relief for the middle class.”

The bill would lower tax rates for individuals through 2025 and permanently cut the corporate tax rate from 35 percent to 20 percent. This, in addition to other important reforms, has caused the bill to be hailed as boon for job creators.

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