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Article snippet: The Senate Finance Committee late Thursday approved the chamber’s GOP tax bill, after the House passed its measure earlier in the day. The panel voted to send the tax plan to the full Senate on a party-line vote of 14-12. "For the millions of hard-working Americans who need more money in their pockets and the chance of a better future, help is on the way," Senate Majority Leader MORE (R-Ky.) said in a statement. “When the Senate returns after Thanksgiving, I will bring this must-pass legislation to the floor for further debate and open consideration," he said. The bill, as modified by Finance Committee Chairman MORE (R-Utah) during the four-day markup, would temporarily cut taxes for individuals while permanently slashing the corporate tax rate from 35 percent to 20 percent. It also would repeal ObamaCare’s individual mandate. The individual tax cuts would expire after 2025 in order to comply with a rule that requires the bill to not increase the deficit after 10 years if it is to pass the full Senate on a party-line vote. Republicans praised the measure, arguing that the tax cuts and the mandate repeal would help the middle class. “This is a good bill that delivers on our promise to provide middle class tax relief and grow our economy,” Hatch said shortly before the vote. Democrats attacked the bill for providing temporary tax cuts for individuals but permanent cuts for corporations while arguing that repealing the individual mandate would result in millions fe... Link to the full article to read more