- The US Senate approved a large tax cut on Saturday morning. This brings the Republicans and President Trump close to the planned reduction of taxes for all companies.
The bill that came into consideration Friday night and was approved on Saturday morning in the Senate has fewer benefits for other income groups in the United States, according to Reuters. Wealthy people are making great progress.
The plan would, if adopted, become the largest tax reform in the United States since the 1980s. Republicans are adding $ 1.4 trillion to the national debt for the next decade to give the already booming US economy an extra boost.
American stock markets reacted positively last month to the expected tax cuts that businesses and consumers expect when the law is passed.
The tax proposal was passed Saturday morning with 51 to 49 votes in the US Senate, the House of Representatives has already approved the plans. Both rooms will submit a bill to President Trump who will approve the law.