The Latest: GOP tax bill clears Congress, heads to Trump
WASHINGTON (AP) — The Latest on Congress and sweeping tax cut legislation (all times local):
Republicans in Congress have delivered an epic overhaul of U.S. tax laws to President Donald Trump, bringing generous tax cuts for corporations and the wealthiest Americans, and billions to be added to the national debt.
The $1.5 trillion package, billed as a huge boon for the middle class and a spark to economic growth, provides smaller tax cuts for middle- and low-income families.
The GOP-dominated House voted — a second time — along party lines on Wednesday to approve the complex legislation, following a narrow vote after midnight in the Senate.
The measure slashes the corporate income tax rate from 35 percent to 21 percent.