This content is not available in your region

First big win for Trump as Senate approves tax overhaul

Access to the comments Comments
By Euronews
First big win for Trump as Senate approves tax overhaul

After several failed legislative overhauls in nearly a year in office, President Donald Trump has had a win in the US Senate.

With a slender majority of 51 to 49, senators have approved a tax bill eventually expected to slash taxes for businesses and the rich, despite Trump's insistence it is for middle-class tax payers.

"Tonight the Republicans provide one billion dollars in tax breaks for the wealthiest people in this country and to the largest corporation while raising the deficit by over 1.4 trillion. Part two of their plan probably coming in a few months will be to call for massive cuts to Social Security, Medicare and Medicaid in order to pay for their tax breaks to the rich", said Democratic Senator for Vermont, Bernie Sanders.

Trump claims the bill is "going to cost him a fortune". However, experts say there is no evidence it will hit the pockets of rich people and there are suggestions that the types of business the president owns will benefit from big cuts.

A final version of the bill, incorporating House and Senate amendments is expected to be ready for delivery by the end of the year.