Later on Thursday evening, the U.S. Senate by a margin of just 1 vote, adopted the draft budget for 2018 in the amount of $ 4 trillion. Voted for the bill, 51 Republican, all the Democrats (49 people) unanimously voted against. The document opens all the way to the new tax plan the President’s administration, which envisages a sharp reduction in taxes. If the reform will take place – the tax codes of the States will be revised for the first time in 30 years. Approval of the budget by the Republicans means that the vote on the law on tax reform could pass even without the participation of Democrats, they also will be denied the right to apply the «rule of the filibuster».
Senator Rand Paul was the only Republican who opposed the new budget and tax reform.
«I could not in good conscience vote for a budget that ignores the costs that have been approved by the law for many years, and just pretend it doesn’t matter,» said Paul in a statement.
According to experts, the new budget will add $ 1.5 trillion to the deficit over the next 10 years. On the formation of additional deficit reduction impact of the Medicare and Medicaid programs.
«We finally have the opportunity to replace outdated U.S. tax codes,» said Senate majority leader Mitch McConnell.
After the vote on the budget the White house released a statement which said that «President Donald J. Trump applauds the Senate for adopting Budget resolution for 2018, he expects final approval of the budget, so we can return jobs to our country».
Perhaps one of the few who supports the new budget in addition to Republicans and the President remain financiers. They expect the strengthening and growth of the dollar in the near future.
