President Donald Trump flashes a thumbs up as the vehicle carrying visiting Libyan Prime Minister Fayez al-Sarraj, arrives outside the West Wing at the White House in Washington, Friday, Dec. 1, 2017. (AP Photo/Manuel Balce Ceneta)
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U.S. Senate Republicans narrowly passed landmark tax reform early Saturday, a critical step toward delivering a monumental legislative victory for President Donald Trump in his first year in office.The Senate version and the one passed recently by the House of Representatives must now be reconciled into a single bill, and approved again by both chambers, before it can be signed into law.The Senate vote amounts to a reversal of fortune for Trump and Republican leaders, whose bill just 24 hours earlier was on the brink of collapse when a handful of Republican deficit hawks balked at the controversial plan's $1.5 trillion price tag for 10 years.After extensive negotiations, the bill was salvaged.Corker hoped to offset the cost of the tax cuts by including a rise in the corporate tax rate in later years, but the effort failed.He was the lone Republican no vote on the bill, but his opposition was not enough to derail it.The Senate and the House must negotiate a compromise bill, and contentious votes are likely in the weeks ahead.
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