Article snippet: Senate Republicans early Saturday morning passed a nearly $1.5 trillion tax bill, in a vote of 51-49, marking a significant victory for the GOP and President Donald Trump. It also marks the first major overhaul of the U.S. tax system in thirty years. No Democrat voted in favor of the legislation. Tennessee Sen. Bob Corker, a Republican, joined Democrats in opposing the bill. The bulk of the bill's tax cuts affect businesses and higher-earning individuals and gives more modest breaks to others. Now that the Senate passed its bill, the next step is for the House to vote on Monday to send the bill to conference committee. At some point next week, the Senate will do the same thing, and then they will begin "conferencing" the two bills. Following the vote, Trump tweeted, "We are one step closer to delivering MASSIVE tax cuts for working families across America. Special thanks to @SenateMajLdr Mitch McConnell and Chairman @SenOrrinHatch for shepherding our bill through the Senate. Look forward to signing a final bill before Christmas!" "I commend my Senate colleagues for this historic action," House Speaker Paul Ryan, R-Wisc., said in a statement following the passage of the Tax Cuts and Jobs Act. "For the first time since 1986, both the House and the Senate have passed a major overhaul of our nation’s tax code. Now we will move quickly to a conference committee so we can get a final bill to President Trump’s desk." Ryan continued, "The hardworkin... Link to the full article to read more