The House of Republicans passed their controversial amendment to the U.S. tax code, which has resulted in major tax cuts for corporate America.
The vote on the new tax system has been attributed to the U.S. President Donald Trump. In the past week, reports have stated that the tax bill has faced a number of obstacles in Congress. However, after President Trump made a personal visit to Congress on Thursday, the status of the bill has changed.
However, despite Trump’s heady presence, 13 Republicans stood steadfast and voted against the bill. The bill also faced a great deal of opposition from Democrats who stated that it was grossly unfair to gift such tax cuts to corporate America.
The change in the code has been a significant component of the Republican game plan. The Party has called for a change to the code for a number of years, however, they lacked the White House support necessary to take their dream to fruition.
After Trump was elected, the Republican Party finally had the support they needed to push for a change in the tax code. The bill it passed in Congress is the most important change made to the U.S. tax code since 1986.
President Trump claims the change is a “big beautiful” Christmas present for all American families.
Speaking of the bill, Republican leader Paul Ryan stated that it was a “historic day” for the country. The White House press secretary released a statement saying that “a simple, fair, and competitive tax code” was finally within the country’s reach. The press secretary added that “now” was the time to deliver that kind of tax code.
Although the bill was cleared by a majority of 227-205, it received no Democrat support. Analysts believe that the bill is likely to pass Senate as well, despite the lack of Democrat support.