Senate passes Republican tax overhaul

WASHINGTON (AP) The Senate has passed a nearly $1.5 trillion Republican tax bill that's historic in scope and an urgent political priority for President Donald Trump and the GOP.

The vote was 51-49, largely along party lines. Not a single Democrat voted in favor of the legislation, which was crafted behind closed doors by Senate Republican leaders. Tennessee Sen. Bob Corker, who calls the growing debt a national security threat, joined Democrats in opposing the bill.

The bill lays the bulk of its tax cuts on businesses and higher-earning individuals and gives more modest breaks to others.

It would bring the first major overhaul of the U.S. tax system in three decades. The measure must be reconciled with a version the House passed last month.

Now the two chambers are expected to reconcile both bills during a conference.

South Dakota Senators John Thune and Mike Rounds are praising the bill. In a statement released Saturday Thune says quote, "By cutting taxes for middle-income Americans and providing job creators with the environment, they need to hire more workers and increase wages.
This tax reform package will turn the economic tide and help Americans get ahead."

Senator rounds says, “It will provide more jobs, bigger paychecks and a fairer tax system, especially to lower- and middle-income Americans who haven't seen a pay raise in nearly a decade."

The South Dakota Democratic Party also released a statement on the vote saying “While Thune, Rounds, and the rest of the Republican Party continue to turn their backs on the middle class, Democrats will continue to fight for an economy, including a tax system that works for everyone, not just the privileged few."