Washington Nov 17 (IANS) The US House of Representatives on Thursday voted to approve a Republican-crafted package of tax cut plan overhauling corporate and personal taxes.
The largely along-party-line vote marked a key milestone for US President Donald Trump and his fellow Republicans as they considered this legislative achievement as a major push for their quest to cut taxes for businesses and individuals Xinhua reported.
The Senate is discussing its own version of tax cut plan and it s not clear whether the Republicans in Senate could secure enough votes to pass it.
The House-version tax cut plan is estimated to bring $1.4 trillion to fiscal deficit over the next decade.
Bipartisan studies showed that the benefits of the tax cuts would eventually go to the highest earners while some middle-class households might pay higher taxes.
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