A Senate hearing Tuesday indicated the politics of the tax overhaul haven’t changed since it passed in December, with Republicans singing its praises as an economist booster and Democrats torching it as a broken promise that mostly benefits the wealthiest.
The Internal Revenue Service’s acting commissioner, David Kautter, testified at a Senate Finance Committee budget hearing asking for nearly $400 million in additional funds to help the IRS administer the Tax Cuts and Jobs Act.
House Republicans passed the most extensive rewrite of the U.S. tax code in more than 30 years—hours after the Senate passed the legislation—handing President Donald Trump his first major legislative victory.
Senate Republicans passed the most extensive rewrite of the U.S. tax code in more than 30 years, a bill that delivers a deep, permanent tax cut for corporations and shorter-term relief for individuals.
Lawmakers scrambling to lock up Republican support for the tax reform bill added a complicated provision late in the process—one that would provide a multimillion-dollar windfall to real estate investors such as President Donald Trump.
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