UPDATE 1:15 PM: The U.S. House of Representatives passed a sweeping tax reform package Tuesday afternoon.
The vote was 227 lawmakers in favor, 203 opposed. Twelve republicans joined all democrats in voting against the legislation.
The bill now heads to the U.S. Senate where debate is expcted to begin today.
(NBC News) Congress is set for the first vote on the sweeping GOP tax reform bill.
President Trump promised his voters a new tax bill by Christmas and is poised to keep that promise. A vote could happen by lunchtime on the new bill.
“This tax reform is about growing paychecks for middle-class families, it’s about growing jobs in America and about our jobs, stopping leaving the United States,” said Texas Representative Kevin Brady.
Protesters at the Capitol rallied against the bill, which includes in it an increased child tax credit, doubled standard deductions, and cuts corporate rates.
One major provision taken out of the bill is the Obamacare individual mandate.
“So, the bill, in short, is a cynical one-two gut punch to the middle class,” said Senate Minority Leader Chuck Schumer.
It appears the bill will pass the House Tuesday, and could be on the president’s desk by the end of the week.
Read more: http://nbcnews.to/2By9ACK