US Senate approves tax reform law

The Senate approved a tax reform bill promised by President Donald Trump on Saturday, after a majority of Republicans considered that the differences had been resolved, limiting the voices of opponents in their ranks.

The text was passed by 51 votes to 46, the first major legislative reform in the Trump era after the Republicans failed to abolish the health insurance system approved by former President Barack Obama.

Republican Sen. Bob Korker voted against the bill, while no one supported it from the democratic minority.

The Senate Republicans (52 votes out of 100) agreed on the final version of the text of the tax reform after the article was modified Thursday evening for technical reasons.

Sen. Ron Johnson said corporate tax was set at 20 percent (from 35 percent now), while Republicans were worried that the big cut could lead to a larger budget deficit.

On November 16, the House of Representatives approved a tax reform project. Since the Senate adopted its own version, the two Houses must coordinate the two texts before sending the draft to Trump for signature and conversion into law, with the aim of passing the text by the end of the year.

The majority of the republics were relatively compatible with the tax reform guidelines, which significantly reduced taxes on companies and individuals and simplified the current laws to allow citizens to fill their tax data with a postcard card instead of having expensive software and accountants.

The stated goal of reform is to relieve the burdens of the middle class and promote growth.

An analysis by the Tax Center Center showed that citizens of all income groups would gain purchasing power, but the 5 percent richer would benefit relatively more from tax reform.

The Joint Taxation Committee, a nonpartisan congressional committee, issued a report on Thursday that estimated the budget deficit would rise by about $ 1 trillion over the next decade if the bill was passed, although the US economy would earn more than $ 400 billion in economic growth due to tax cuts.