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US Senate panel proposes $1.5 trn 10-year revenue cut for tax plan

Republicans control the Senate by only a 52-48 margin and are unlikely to get much support from Democrats

Reuters  |  Washington 

The Republican-controlled US Senate Budget Committee, in a crucial step forward for tax reform legislation, on Friday released a fiscal 2018 budget resolution that would allow tax cuts to lose up to $1.5 trillion in revenue over the next decade. The measure, which could be marked up for a full Senate vote next week, is vital to Republican plans to move tax reform legislation through the Senate via a special parliamentary process that would allow Republicans to pass legislation without a customary 60-vote margin. Republicans control the Senate by only a 52-48 margin and are ...

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First Published: Fri, September 29 2017. 22:48 IST
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