Senate Passes Sweeping Tax Reform – Largest in 31 Years – 20% Corporate rate

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Senate Republicans have passed the most sweeping overhaul of the US tax code in three decades, a significant step that moves Donald Trump closer to achieving the first major legislative victory of his presidency. The Senate passed its tax plan in a 51-49 vote early on Saturday morning, with Vice-President Mike Pence presiding over the chamber and after a frantic rewrite. Bob Corker was the sole Republican to vote against the bill, which would bestow huge benefits on US corporations and the wealthiest Americans.