US House of Representatives Supported Trump’s Tax Reform

Forex News

The House of Representatives approved the biggest revision in US taxes for 30 years on Tuesday, although the Republicans in Congress may have to hold another vote today because of procedural issues. For this bill voted 227 congressmen, 203 were against. The adopted bill provides for a reduction in the tax rate for business from 35% to 21%.

Tax reform is considered as the most important economic project of Donald Trump and is supported by business representatives. At the same time, Democrats suggest that large corporations and wealthy Americans will benefit from this tax reform. The Republican Party claims that this bill will stimulate investment in business, hiring and wage growth.