The American Senate adopted a bill on Saturday to change the US tax system. Earlier, the House of Representatives voted its changes. The Senate bill was adopted by 51 votes to 49 votes. Voting was a big success for President Trump. However, he had to make significant concessions to convince undecided congressmen. One of the concessions was to allow federal taxes up to $ 10,000 in local and state property taxes to be deducted from the base.
When the law was adopted, the obligation to have medical insurance was lifted. This means a departure from the basic principle introduced by the medical system called "Obamacare". Under the new regulations, the tax code is also to be simplified. It currently has 70,000 pages, which gives 140 volumes of books of 500 pages each.
However, the Senate Act differs from the version voted by the House of Representatives. Both laws provide for a reduction in corporate and individual income taxes, but the reduction of the latter will apply until 2025. Corporate tax will be reduced from 30% to 20%.
The biggest difference between both solutions is the lack of resignation from the "Obamacare" version of the lower house. However, comparing the two projects will last a few more days. Even many senators did not have time to get acquainted with the 479-page project.