November 17, 2017
Just hours after the House passed sweeping tax reform, the Senate Finance Committee approved its tax plan, pushing the legislation to the floor for a full vote.
The panel approved the measure in a 14-to-12 vote along party lines on Thursday.
Like the House bill, the Senate plan will slash the corporate tax rate and reduce individual income rates.
If passed, it would also eliminate the individual Obamacare mandate.
Senate Majority Leader Mitch McConnell said he plans to bring the bill to the Senate floor after the Thanksgiving recess.
The chamber adjourned Thursday night, and will reconvene on Monday, November 27.