Susan Collins

GOP pushes $4 trillion budget through Senate, setting stage for debate on overhaul of tax code

GOP pushes $4 trillion budget through Senate, setting stage for debate on overhaul of tax code

Republicans on Thursday muscled a $4 trillion budget through the Senate in a major step forward for President Donald Trump's ambitious promise of "massive tax cuts and reform."

The 51-49 vote sets the stage for debate later this year to dramatically overhaul the U.S. tax code for the first time in three decades, cutting rates for individuals and corporations while eliminating trillions of dollars of deductions and special interest tax breaks.

The tax cuts would add up to $1.5 trillion to the deficit over the coming decade, however, as Republicans have shelved fears about the growing budget deficit in favor of a once-in-a-generation opportunity to rewrite tax...

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