WASHINGTON — The Senate passed the most sweeping tax rewrite in decades early Saturday, with Republicans lining up to approve an overhaul that will touch almost every corner of the United States economy, affecting families, small business owners and multinational corporations, with the biggest benefits flowing to the highest-earning Americans.
Senators voted 51-49, as Republicans approved the nearly 500-page bill in the early morning hours after lawmakers received a rewritten version, which contained significant changes from the original bill that passed two Senate panels last month along party lines.
The Republican Tax Plan
Complete coverage of the Republican Party’s sweeping plan to cut federal taxes.
Trump’s Red Line Is Holding Up Tax Cuts
- President Trump is demanding a 20 percent corporate tax rate. It is slowing negotiations for a final deal in the Senate.
- With Republicans holding a narrow majority of just 52 seats, they can afford only two defections if they want to pass the bill without Democrat support.
Analysis: Flynn’s Guilty Plea Looms Over a White House on the Verge of a Tax Cut Success
- The guilty plea by Michael T. Flynn, President Trump’s former national security adviser, brings the investigation of Russian interference in the 2016 election into Mr. Trump’s inner circle.
- It raised uncomfortable questions about what Mr. Flynn might be telling the special counsel, Robert S. Mueller III.