The Senate narrowly passed Republicans' tax reform legislation early Saturday morning with no Democratic support, following a marathon voting session overnight.
The bill, approved just before 2 a.m. in a 51-49 vote, next heads to conference, where House and Senate negotiators will work out the differences in their bills. Sen. Bob Corker (R-Tenn.) was the only Republican to vote no on the measure. The House bill also passed with no Democratic support last month.
The Senate bill is expected to add more than $1 trillion to the deficit over the next 10 years, according to a Joint Committee on Taxation analysis.
The bill's passage is a major accomplishment for Republicans, who have been unable to pass significant or complex legislation since they took control of the House, Senate, and White House in January.
Read more in CBS News.
For more information, visit WBA's Tax Reform page at www.wisbank.com/TaxReform.