In the early hours, Senate Republicans passed the controversial tax reform bill, and sent it over to the House for its final vote in an expected approval Wednesday morning.
The pending tax codes are the largest reform in over three decades. While most Americans disagree, the Republican majority in both Congressional branches pushed through legislation that many surmise will have severe long term negative effects.
Tax Reform Codes
Decrease in corporate tax, removing healthcare insurance mandate, school tuition subsidies and tax cuts for all tax payers over the years are several critical parts of legislation that some predict will place another trillion dollars in debt on American economy.
A recent report released by the World Inequality Report shows that the gap in income equality in the United States widened, and part of the reason is due to already unprogressive tax codes.
Regardless of long term impact, the GOP’s passage means the first major legislative win for President Donald Trump. For others, this leads to an assured major change in 2018 midway elections.
Democrats and women ramp up to shift the Congress to a more progressive body. Moving forward, many believe that the collateral damage during this presidency is extensive.
The House prepares to vote on Wednesday morning after initially casting ballots to approve new tax codes; however, provisions in the bill that had been struck down by the Senate were not removed causing the revote.