Im christine romans. Im dave briggs. Its been 30 years since the tax code was overhauled. Its 4 00 a. M. In the east. Historic day as republicans big tax overhaul is all but a done deal. Just a few hours ago the Senate Approved the final version of the bill scoring republicans for significant legislative win since President Trump took office. The measure, yes, has proven unpopular. It passed along party lines. The approval came over the objection of democrats and protesters in the gallery. Restore order in the gallery. President trump celebrating on twitter. Terrible individual mandate from obamacare repealed. The president inviting republicans to join him at the white house this afternoon to tout passage of this landmark legislation. The only hitch, that will have to wait until the house goes through the motions of passing the bill again. Reporter without any question at all, the biggest hurdle republicans face as they tried to pass their tax overall, something that hasnt been done in
Certain way. So they of course passed the bill overnight around 1 00 or so in the morning. Sent it back over here to the house of representatives where we expect them to start voting just about an hour or so from now. And we expect that the results will be similar. We just saw the House Speaker paul ryan walk past here. He has been in what i would describe as a jubilant mood. This is a major accomplishment for him. But of course a source of concern for a lot of americans who are wondering how this will affect them. This is a major tax break for businesses and proceed poe nepo that brings us in line for the rest of the world, but critics say that it will add to the deficit and its not clear that individuals will keep the tax cuts in 2025. Yeah, well talk about the deficit more in a minute. But first i want to get the take from the white house with metet alexander is like 200 feet away from me. We know republicans are coming over this afternoon. This will be a serious victory lap. What e
Legislation. The only hitch that it will have to wait until the house goes through the motions of passing this bill again. Phil mattingly on capitol hill has the latest. Reporter well, christine and dave, wouts any question at all, the biggest hurdle that republicans faced as they tried to pass the overhaul. Getting it through the u. S. Senate and early on wednesday morning thats exactly what they did by a vote of 5148 along partisan lines every republican that was in attendance voted for the 1. 5 trillion tax plan. Republicans say this is something that will benefit the middle class. On the corporate side will completely overhaul how the code currently stands. The corporate codes are skewed heavily in the favor of business. Republicans say even though current polling shows that americans dont trust this bill, arent sure what it will actually do, theyre willing to sell it. Take a listen to how Mitch Mcconnell responded to my question after the vote. Do you believe theres a need for rep
Wait until you hear how virginia will determine balance of power in that bellwether state. Good morning, and welcome to early start. Im Christine Romans. Im dave briggs. This just in, joe biden has finally stopped praising the president. I think he had to sleep at some point, so its just now came to a close. Thursday, december 21st, 4 00 a. M. In the east, 6 00 p. M. In seoul, its 11 00 a. M. In jerusal jerusalem. Well check in there shortly. First, the republicans taking a victory lap, passing their tax reform, tax cut bill, which now awaits the president s signature, but in touting the bill as a huge tax cut, the president himself made what could be a serious tactical error, admitting the measure was just as much about gutting obamacare. The individual mandate is being repealed. So in this bill, not only do we have massive tax cuts and tax reform, we have essentially repealed obamacare. We didnt want to bring it up. I told people specifically, be quiet with the Fake News Media becaus
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