Washington D.C. [United States], December 20 (ANI): The United States Senate on Wednesday approved the largest overhaul of the U.S. tax code in more than three decades.
The Republican tax-cut bill was passed along party lines, 51-48 with minor changes so that it would comply with Senate budget rules.
Earlier, the House of Representatives passed the bill by a 227-203 vote, making good on the Republican Party's promise to enact tax relief by the end of the year.
The bill now needs to be approved by the House once again as technical changes were made to it in the Senate, before being signed into law by Trump.
According to the Hill, the bill would temporarily lower rates for individuals and families. It would also reduce tax breaks important to states and cities with higher taxes by placing a $10,000 cap on the state and local tax deduction.
US Vice President Mike Pence delayed his visit to Egypt and Israel until next month to ensure Senate passage of the GOP tax bill.
Earlier, he was scheduled to leave on Tuesday for the two-nation visit.
"The largest tax cut in American history is a landmark accomplishment for President Trump and a relief to millions of hardworking Americans," Pence press secretary Alyssa Farah said in a statement.
U.S. President Donald Trump also hailed the passing of the GOP tax cut bill.
"The United States Senate just passed the biggest in history Tax Cut and Reform Bill. Terrible Individual Mandate (ObamaCare)Repealed. Goes to the House tomorrow morning for final vote. If approved, there will be a News Conference at The White House at approximately 1:00 P.M," Trump tweeted.
Earlier in November, the House passed a bill to cut taxes on businesses and individuals as part of the Republicans effort to overhaul the American tax system. (ANI)