US House narrowly passes budget, paving way for $1.5 trillion tax cut

Source: Washington Post

“House Republicans set the stage Thursday for an intense sprint toward a landmark tax overhaul, overcoming internal dissension and Democratic opposition to move forward with legislation that could cut revenue by up to $1.5 trillion over the coming decade. Budget legislation passed Thursday will allow the GOP to pass its tax plan without Democratic help, but the close 216-to-212 House vote reflected ongoing tensions about the tax push among Republicans — and many expect the qualms to grow once draft legislation is released next week.” (10/26/17)