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Senate passes tax bill in massive step forward — here's how it all went down

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mitch mcconnell

  • The Senate voted to pass the massive Republican tax bill early Saturday morning.
  • The bill proposes huge changes to business and individual taxes.
  • It passed 51 to 49, with one Republican voting against it.


Senate Republicans early Saturday morning passed their massive proposed overhaul to the tax code after GOP leaders scrambled Friday to make last-minute changes to their bill, a complete version of which emerged only late in the evening.

The bill passed the chamber, 51 to 49, with Republican Bob Corker voting against it.

Throughout the process, Senate Majority Leader Mitch McConnell attempted to appease deficit hawks, moderates, and members concerned about small business, all while keeping the TCJA within Senate rules.

The last-minute changes continued into Friday evening. The vote came just three weeks after the bill, the Tax Cuts and Jobs Act (TCJA), was introduced.

As the night rolled on, we followed the debate live. Below is a recap of what you missed.

1:51 a.m.: The bill passes, 51 to 49.

The vote was 51 to 49.

All Republicans but Sen. Bob Corker of Tennessee voted for it.

All Democrats voted against.



10:07: Time for amendment votes.

McConnell proceeded to votes on amendments. We'll updated as votes are taken:

  • Joe Manchin (D-West Virginia) introduced a motion to send the bill back to Finance Committee. The vote failed 38 to 61.
  • Tim Kaine (D-Virginia) introduced an amendment to reinstate the alternative minimum tax, increase the top individual tax rate, makes the individual tax changes permanent. The amendment failed 34-66.
  • Ted Cruz introduced an amendment to allow funds from 529 college savings accounts to be used towards tuition for K-12 school. The amendment was adopted after Vice President Pence broke a 50-50 tie.
  • Bob Menendez (D-New Jersey) introduced a motion to send the bill back to the Finance Committee with instructions to add the state and local deduction back to the bill. The motion failed 48-52.
  • Marco Rubio (R-Florida) introduced an amendment that that would make the child tax credit more generous, paid for by cutting the corporate rate to 20.94% instead of the 20% proposed in the TCJA. This also failed 29-71.
  • Sherrod Brown (D-Ohio) introduced an amendment that would have increased the size of the child tax credit permanently. It failed 48-52.
  • Bernie Sanders (I-Vermont) introduced an amendment that was a point of order to try and force a 67-vote threshold for future bills that cut Social Security, Medicare, and Medicaid. The amendment failed 46-54.

 



12:08: Pence breaks a tie on an amendment from Ted Cruz to expand 529 school savings accounts.

The amendment, which was agreed to after Vice President Pence broke a 50-50 tie, would allow people to use 529 savings accounts for K-12 tuition and not just college.

Democrats said the change is a backdoor way to drive people toward private school instead of public schools.

This is also the first time Pence has been needed for a vote.



See the rest of the story at INSIDER

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