Republicans just took another huge step forward on their tax-cut plan

The Senate Finance Committee reported the GOP tax plan, the Tax Cuts and Jobs Act, on Thursday, advancing it to the Senate floor for consideration by the full chamber.
The approval came after a tense four-day markup of the bill.
The full Senate is likely to consider the bill after the weeklong Thanksgiving recess.

The Senate Finance Committee moved the massive GOP tax plan forward another step Thursday by reporting the Republican bill to the full chamber.

The bill, named the Tax Cuts and Jobs Act, moved forward on a 14-12 vote on party lines.

The bill will next move to the Senate floor, most likely the week after the Thanksgiving recess, to be considered by the full body.

Reporting the bill out concludes a four-day markup for the Finance Committee that was at times contentious. Democrats accused Republicans of favoring the rich and corporations, while Republicans argued they were focused on helping the middle class.

The tension came to a boil late Thursday when Democratic Sen. Sherrod Brown suggested that Republicans were pushing the bill only to help the rich. Sen. Orrin Hatch, the longtime GOP member who chairs the committee, took issue with Brown's insistence.

"I come from the poor people," Hatch said, per The Wall Street Journal. "And I've been here working my whole stinking career for people who don't have a chance. And I really resent anybody saying I'm just doing this for the rich. Give me a break. This bullcrap that you guys throw out here really gets old after a while."

GOP leaders praised the legislation while Democrats decried it.

"The committee, under the leadership of Chairman Hatch, considered hundreds of amendments, heard arguments from all sides, and debated in an open and transparent manner," Senate Majority Leader Mitch McConnell said. "I commend my colleagues and the legislation they put forward."

Sen. Tom Carper, a Democrat from Delaware on the Finance Committee, took an opposing view.

"It's not surprising that a flawed process has produced a flawed product, but we can change course," Carper said in a statement. "I implore Chairman Hatch and our colleagues on the other side of the aisle: Let's go back to the drawing board and start anew on a real bipartisan basis."

The House passed its version of the Tax Cuts and Jobs Act on Thursday. If the full Senate approves the bill (which is no guarantee) after Thanksgiving, a conference committee would meet to reconcile the two versions of the legislation.

Republicans just took another huge step forward on their tax-cut plan

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