The US Senate on Saturday approved a nearly $1.5 trillion (€1.26 trillion) taxation bill by a vote of 51-49, a narrow vote that reflects the controversial nature of the legislation. Both bills were formulated in secret by Republican congressional leaders and Trump advisers. Raising the deficitThe Senate passed the bill despite official predictions of a $1 trillion flood of budget deficits over ten years, adding to the current $20 trillion national debt. In voting against the bill, Republican Senator Bob Corker of Tennessee was the only lawmaker to cross party lines. Democrat Senator Elizabeth Warren was particularly scathing after the vote, calling the Republicans “morally bankrupt.”The tax overhaul is the largest in the US since the 1980s.

Source: Egypt Independent December 02, 2017 07:52 UTC