Senate Passes Sweeping Tax Overhaul

President Trump is now one step closer to getting the tax reform bill he wanted for Christmas. The Senate passed the biggest tax overhaul in more than 30 years in a 51-48 vote just after 1am Wednesday, the Washington Post reports. Every Republican present voted in favor, though Sen. John McCain was in Arizona receiving medical treatment. No Democrats voted for the bill, which slashes the top corporate tax rate from 35% to 21%. The House approved the bill 227-203 on Tuesday, but because of a legislative issue, they will have to vote again on Wednesday before it can land on Trump's desk.

The Senate "just passed the biggest in history Tax Cut and Reform Bill," Trump tweeted. "Terrible Individual Mandate (ObamaCare) Repealed." The president, who has described the bill as a "big, beautiful Christmas present" to the nation, said that if it passes the second House vote, there will be a White House press conference at 1pm Wednesday. The Guardian reports that in remarks on the Senate floor, Senate Minority Leader Chuck Schumer called the bill a "disgrace" and said Republicans would "rue the day" they passed it. The Democrat lashed out at Republicans for talking during his speech. "This is serious stuff. We believe you're messing up America," he said. "You could pay attention for a couple of minutes." (A dozen House Republicans voted against the bill.)