The Tax Cuts and Jobs Act, or H.R. 1, passed by a vote of 51-49, with Sen.
Democrats have noted that while the corporate tax rates would be permanently reduced under the plan, it would only offer temporary tax cuts to individuals, lasting until 2026.
"If you look at the House and Senate bill, both of us are pretty close on that".
The Obamacare repeal failed because the Republicans were unable to unify on a bill which would repeal and replace Obamacare, something that leaders had promised.
His presidency has also been dogged by an independent investigation into Russian attempts to influence the 2016 United States election and possible collusion with his campaign team.
What's in the new tax bill?
The changes forced the debate to stretch for hours, as Republicans released a final version of their bill with adjustments scribbled in the margins of the text.
Republicans have a two-seat Senate majority. Those three, non-negotiable objectives are a 20 percent corporate tax rate, a big middle-class tax cut, and a simplified tax code, he said during a press briefing at the White House on November 17.
Republicans have pointed to the tax bill as crucial to retaining its House and Senate majorities in next year's midterm elections.
The committee's findings contradicted a White House claim that economic growth would compensate for the tax cuts.
Some opponents highlighted a measure that would end a requirement introduced under Obamacare for most taxpayers to buy health insurance or face a fine.
The Congressional Budget Office estimated that as many as 13 million people in the US would become uninsured as a result of the repeal of the individual mandate.
The passage of these tax overhaul bills are one of very few victories for the Trump administration that has been plagued with controversy, ineptitude, and disfunction.
"My Republican friends will ultimately pay consequences for this bill in 2018 and beyond".
He said the measures would endanger social security and medical provision.
"Trickle-down economics did not work under Ronald Reagan, did not work under George W. Bush", independent Senator Bernie Sanders of Vermont, who caucuses with Democrats, said.
As Senate and House leaders negotiate a final package, House leaders are considering keeping a version of the deductions in order to get the state's Republican members on board for a final vote. "You complain about process when you're losing and that's what you heard on the floor tonight".
Regarding the impact of the bill on the deficit, McCain said the bill's net effect on the USA economy would be positive.
Democrats were angry about the last-minute revisions, complaining that they had not been given enough time to digest the almost 500-page document, with handwritten changes to the legislation.
She promised to leave USA if Trump won and she's still here Scalise responds to Rosie calling him a "f--ing liar": "Bless your heart" Scalise on taxes: "All the rates are going to go down" MORE (R-La.) said Sunday the House and Senate are "pretty close" on the key aspects of each chambers' tax bill, despite what he acknowledged are "significant" differences.