Congress Approves Sweeping Tax Overhaul

The Tax Cuts and Jobs Act (H.R. 1) has been approved by Congress and is on its way to the White House.

After a last-minute procedural glitch that required the Senate to vote first on the final bill, the most sweeping change to the U.S. tax code in decades cleared the Senate, 51 to 48, in the early morning hours of December 20, followed by house approval, 224 to 201, later the same day. President Trump has signaled his support for this tax legislation and is expected to sign the bill into law when it reaches the White House.

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