November 29, 2017 - 3:22 PM
WASHINGTON - The Latest on Senate Republicans' tax overhaul bill (all times local):
6:18 p.m.
The largest tax package in more than three decades has cleared a key procedural vote in the Senate as Republican lawmakers work to give President Donald Trump the biggest legislative victory of his first year in office.
The Senate voted 52-48 Wednesday to start debating the bill, which would provide generous tax cuts to businesses and more modest tax cuts to families and individuals. It was a party-line vote, with all Republicans in favour and all Democrats opposed.
Wednesday's vote paves the way for the Senate to potentially pass the bill later this week. Lawmakers would then try to reconcile it with a tax package passed by the House.
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4:20 p.m.
Conservative groups and lawmakers are lining up against a proposal by Senate Republicans to impose automatic tax increases on millions of Americans — if their sweeping tax package doesn't grow the economy and raise tax revenues as much as projected.
The opposition comes as the Senate starts debating the tax package. It could doom a delicately negotiated proposal aimed at mollifying deficit hawks who worry that tax cuts for businesses and individuals could add trillions to the nation's mounting national debt.
But tucking a potential tax increase into the tax cut bill isn't sitting well with conservatives.
Rep. Jeb Hensarling of Texas, calls the proposal "a uniquely bad idea."
News from © The Associated Press, 2017