2 Senate Republican, said on Friday morning that Republicans had the 50 votes they need to pass the tax bill. Republicans appeared increasingly confident as they milled into the Senate’s ornate Strom Thurmond Room to hash out the remaining details of a tax bill that has been a moving target. Advertisement Continue reading the main storyAmong the changes Ms. Collins secured was adding in a $10,000 property tax deduction into the Senate bill. The Senate tax bill will now allow pass through owners to deduct 23 percent of their business income as a way of lowering their taxes, up from 17.4 percent in the original Senate bill. The independent Tax Policy Center said on Friday that the Senate tax bill would add $1.2 trillion to federal deficits over 10 years, even after accounting for increased economic growth.

Source: New York Times December 01, 2017 11:54 UTC