Published On: Sat, Dec 2nd, 2017

US Senate approves ‘Tax Cuts and Jobs Act’ bill

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Giving a huge victory to the US government led by Republican leader Donald Trump, the United States Senate has approved the controversial ‘Tax Cuts and Jobs Act’ bill.

Though the Republican Party has clear majority in both the US Senate and House of Representatives, the victory has been unexpected.

It has been reported that there were too many odds, against which those who supported the bill had to negotiate until the last moment.

The report have pointed out that the republican members, who were unhappy with the new bill, were the prime hindrance which the Trump supporters met during their journey towards the victory.

Anyway, the approved bill will be merged with a similar bill passed by the House of Representative. Then, it will be submitted before the Supremo. Once it gets the accent of the President, it will become an act.

Meanwhile, the opposition has alleged that the bill would only benefit the well-offs and offers little to those reside in the bottom of the country’s economic structure.

Notably, earlier, a Senate committee observed that the bill would add to the budget deficit of the country.

However, the White House believes that the economic growth would help to overcome the forecasted budget deficit.

It seems that the White House’s argument has gone well into the heart of the majority of the senators and House of Representatives members, than the senate committee’s observation and democrats’ opinion.

 

Vignesh. S. G

Photo Courtesy: Google/ images are subject to copyright 

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US Senate approves ‘Tax Cuts and Jobs Act’ bill