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Trump Lauds Passage of GOP Tax Overhaul

Trump Lauds Passage of GOP Tax Overhaul
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By The Associated Press
Nov. 16, 2017 | WASHINGTON, D.C.
By The Associated Press Nov. 16, 2017 | 04:24 PM | WASHINGTON, D.C.
President Donald Trump calls the House passage of the $1.5 trillion tax package "a big step" toward delivering on the Republican Party's promise of tax cuts by year's end.
  
Trump tweets his approval of the legislation, calling it "a big step toward fulfilling our promise to deliver historic TAX CUTS for the American people by the end of the year!" The House passed the bill Thursday by a 227 to 205 margin, with only Republican votes in favor.
  
Senate Republicans are debating their own version of the tax legislation in the more sharply divided chamber. Trump has said he wants to deliver a "Christmas present" in the form of tax cuts.

Senate Majority Leader Mitch McConnell of Kentucky released a statement on the tax plan's package, saying, “We are one big step closer to putting more money in the pockets of millions of struggling American families so they can pay their bills, save for their future and invest for their children. The members of the Senate’s tax writing committee are also making real progress on a bill that’s been years in the making to fulfill our promise to the American people. The tax proposals before Congress will help restore our nation’s economic growth and give our workers, families and small businesses greater confidence that the future will hold greater prosperity, more jobs and opportunity.”

Kentucky Congressman John Yarmuth, Ranking Member of the House Budget Committee, also issued a statement after the bill passed in spite of his "no" vote. He outlined his party's view of the tax plan, saying it will increase taxes for middle-class families, shower tax cuts on the wealthy, and increase deficits by $1.5 trillion.

Yarmuth said, "Now the bill heads to the Senate where Republicans plan to add a provision sabotaging the Affordable Care Act and leaving 13 million more Americans uninsured. This isn’t tax reform—it’s an attack on the health and financial security of the American people. Democrats will continue to fight for its defeat.”
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