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[quote=Anonymous]The losers will be some taxpayers in high tax blue states who face the double whammy of continuation of the AMT and a limit on the deduction for property taxes. But who cares what blue state voters think given that Republicans have minimal presence in those states eg CA, NY, CT, NJ.

[i]The bill would lower tax rates for individuals through 2025 and permanently cut the corporate tax rate from 35 percent to 20 percent. The bill’s tax cuts for individuals are temporary in order to comply with budget rules that the measure can’t add to the deficit after 10 years.

The bill would also repeal ObamaCare’s individual mandate, a priority for President Trump and many Republicans, and open up a section of the Arctic National Wildlife Refuge (ANWR) for drilling.

Sen. Susan Collins (R-Maine), a moderate who voted against the GOP’s ObamaCare repeal efforts, also voted in favor of the tax bill after getting several of her amendments into the bill, including the restoration of a $10,000 deduction for property taxes and a lower threshold for deducting medical expenses.

"I will cast my vote in support of the Senate tax reform bill. As revised, this bill will provide much-needed tax relief and simplification for lower- and middle-income families, while spurring the creation of good jobs and greater economic growth," Collins said.[/i]

[url]http://thehill.com/homenews/senate/362891-senate-passes-tax-overhaul-securing-major-victory[/url][/quote]

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