Senate Approves Budget, Easing Path Toward Tax Reform Legislation

The Senate approved a budget for 2018 with language permitting a simple majority vote on tax legislation through reconciliation. The budget language allows tax legislation to add up to $1.5 trillion dollars to the deficit over a decade, which the budget blueprint balances by assuming greater economic growth, cuts in spending and an accounting method that does not include Social Security. With Republican control of the Senate, the budget resolution allows for the passage of tax reform legislation without any votes from Senate Democrats. The Senate budget blueprint will now be voted on by the House, which passed its own budget resolution earlier this month, which did not add to the deficit.

Read more: Senate Approves Budget Plan That Smooths Path Toward Tax Cut

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