House Passes Historic Tax Reform: Tax Cuts and Jobs Act Heads to the Senate

The U.S. House of Representatives approved tax reform, sending the Tax Cuts and Jobs Act to the U.S. Senate where it has a slimmer margin of error. The bill, if it passes both the upper and lower chamber, would be the most significant accomplishment to date for the Trump Administration.

It passed by a vote of 227 to 205, with 13 moderate Republicans in high state and local tax states voting against it.

“This is nothing short of extraordinary. Getting 227 members to agree on something as complicated is extraordinary. This country has not rewritten its tax code since 1986,” House Speaker Paul Ryan, R-Wis., said. “The powers of the status quo in this town are so strong. Yet 228 members broke through that today.”

The Republican-controlled Senate will need 50 votes for Vice President Mike Pence to cast the tie-breaking vote. It is expected to go to conference. President Donald Trump, who has been hands-on during the entire process, made a last-minute trip up to Capitol Hill Thursday to meet with the Republican conference before the vote.

“I want to thank the President of the United States. I want to thank his administration. From the very start we have said that failure is not an option,” Speaker Ryan added. “This is about giving hardworking taxpayers bigger paychecks. This is about giving people hope and a new opportunity.”