The House of Representatives on Tuesday passed a sweeping tax overhaul bill, moving the legislation on to the Senate for consideration. The bill passed 227-203. The 500-page, $1.5 trillion bill lowers the corporate tax rate from 35 percent to 21 percent, and the top individual tax rate from 39.6 percent to 37 percent. The Senate was expected to pass the vote Tuesday night. Even if all 48 Democrat senators vote against the tax bill, Republicans expect to have enough votes to pass it.
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