Senate Republicans, after a flurry of last-minute deals, appeared to have salvaged their tax plan Friday, putting Congress on track to deliver President Trump’s most significant first-year accomplishment. Even after accounting for future economic growth, the plan is estimated to add $1 trillion to the deficit over 10 years, rebuking Republican promises that the tax cuts will pay for themselves. GOP leaders were confident they had the support for passage. The final Senate bill also includes a repeal of the Affordable Care Act requirement that Americans have health insurance. In another last-minute change, Republicans dropped plans to repeal the so-called alternative minimum tax for individuals, which would help raise hundreds of billions of dollar to pay retaining the property tax deduction and tax cuts elsewhere.

Source: Los Angeles Times December 01, 2017 15:30 UTC