Millions of Americans would stop itemizing deductions under the bill, putting tax breaks that incentivize home ownership and charitable donations out of their reach, but also making their tax returns somewhat simpler and shorter. Coupled with this tax reform, America is ready to start performing as it should have for a number of years,” said Senate Republican leader Mitch McConnell after the chamber's vote. That sent the measure to the Senate, where the Senate parliamentarian ruled three minor provisions in violation of an arcane Senate rule. Because the House and Senate must approve the same legislation before Trump can sign it into law, the Senate's late Tuesday vote only ping-ponged the bill back to the House. "When future generations look back at the short and messy history of the Republican tax bill, its most enduring lesson will be what it has taught us about how not to legislate," said Senate Democratic Leader Chuck Schumer on the Senate floor.

Source: bd News24 December 20, 2017 06:10 UTC