Senate Passes $1.4 Trillion Tax Cut Legislation

By Vidya Kauri (December 2, 2017, 1:52 AM EST) -- The U.S. Senate passed an expansive tax cut bill early Saturday that is projected to add more than $1 trillion to the deficit, after garnering enough support from faltering and fiscally conservative Republicans.

The Tax Cuts and Jobs Act, or H.R. 1, passed by a vote of 51-49, with Sen. Bob Corker, R-Tenn., being the only Republican to vote against the bill. No Democrats voted in favor of the bill.

Republicans applauded after Vice President Mike Pence announced the vote and the passage of the sweeping overhaul of the tax code from the president's chair in the Senate chamber.

President Donald...

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