Republicans on Tuesday muscled the most sweeping rewrite of the nation's tax laws in more than three decades through the House. But they'll have to do it again on Wednesday because of a legislative hiccup. Tuesday's vote, largely along party lines, was 227-203 and capped a GOP sprint to deliver a major legislative accomplishment to President Trump. In a last-minute glitch, however, the Senate parliamentarian ruled that three provisions in the bill, including one that would allow parents to use college savings accounts for home-schooling expenses for young children, violate Senate budget rules. House Majority Leader Kevin McCarthy said the House would vote on the package again on Wednesday, after the Senate removes the problematic provisions and passes the bill, per the AP.
The Senate, for its part, is expected to pass the measure Tuesday night or early Wednesday. The massive $1.5 trillion package would touch every American taxpayer and every corner of the US economy, providing steep tax cuts for businesses and the wealthy, and more modest tax cuts for middle- and low-income families. The standard deduction used by most families would be nearly doubled, to $24,000 for a married couple, while those who itemize would lose some deductions. The plan also would push the national debt ever higher. "Today we are giving the people of this country their money back," said House Speaker Paul Ryan, per the Hill. "You're lying!" shouted a woman in the public visitors' gallery, one of several who interrupted the proceedings. (Read more tax code stories.)