| | The House voted Thursday to adopt a Senate-passed 2018 budget plan, clearing the way for a sweeping overhaul of the tax code for individuals and businesses that could add as much as $1.5 trillion to the national debt. The budget measure differs sharply from one the House approved Oct. 5. Back then, House Republicans mandated that any tax cuts from lowering tax rates must be offset by closing loopholes or cutting spending. But after the Senate last week approved a plan that would allow tax changes that add as much as $1.5 trillion to the debt, the House went along, with many members saying they needed to deliver a major legislative "win" going into the 2018 midterm elections.
| FOR MORE ON THIS STORY, GO TO: | | | | |
Posts
No comments:
Post a Comment