President Trump has all but secured a $1.5 trillion tax cut after the measure passed through the US Senate last night. The bill, which will go back to the House of Representatives today for a final vote, will give Mr Trump the “giant tax cut for Christmas” he had promised. The Senate backed the bill yesterday by 51 votes to 48, with no Democratic support. The legislation sailed through the House by 227 votes to 203, also along party lines. After two successive record closes, US markets took a breather last night with the Dow Jones industrial average shedding 37.45 points to…

Source: The Times December 20, 2017 00:20 UTC