US tax bill: Senate narrowly approved tax overhaul

The US Senate narrowly approved the biggest tax overhaul since the 1980s. The bill slashes taxes for corporations, but Democrats complained it only benefits the wealthy and big business.

Economists have been skeptical that the cuts will generate enough growth to make up for the loss in government revenue, as the Republicans have promised.

President Trump said he looked forward to signing a final bill before Christmas.

Al Jazeera's Tom Ackerman reports from Washington.

[ianperacca]

F*ck Trickle Down Economics.. if you're going to lower taxes, lower them on middle and lower income families

[rabbitbobo]

I still have no idea why financial firms still think that the dollar would rise? the only way i see it is that, they also want to sell off the dollar. They need to lower the tax on the smaller firm and raise the tax in larger firm, that is the simple "sustainable" economic model, this would just create a abundance of no-value currency which would depreciate the "value" of the dollar. simply said, giving more money to those who doesn't need them just means less value for those who has less = less value for the dollar. The world thanks Trump for US down fall.. you want a cheap dollar and wants the world to bent over? I mean good luck with that..

[BlindBloomer]

Tax cuts for the rich cut for the rich cut for the rich
cut for the rich

[WilsonsKennel]

All behind doors greed will get exposed.

[sherryspectre]

Here we go! Here comes those cuts to what the people want and need. Ultimately. Trump is worried about elections, while the middle class is non-existent.

[johnc]

People are going to suffer this is not good unless you make more then 40k a year

[marymccarson]

Trump knows what he s doing. ...MAGA..

[MrSoggycat]

Unlikely that the rise in domnestic Investments will supercede the loss in Government spending. Look up the meeting of the CEOs of the US this year about what they would do if they got the tax cut and only a few raised their hands. There might be an influx of FDI but the large, closed economy of US makes the positive impact of FDI low, especially with recent dissolution of FTAs like NAFTA.

[bobbybobby]

sad day for the working poor of America.

[tellingfoxtales]

Blockchain is going to kill taxation anyway, it doesn't matter whether you raise or lower them.

[hemalon]

Why is everyone saying that the tax cuts are going to benefit the rich on the country the other perspective to the whole question is that because the rich people pay more tax is the maximum benefit of the tax cut is going to go to them so it is principle of equality where the person who is paying more taxes is ending up gaining more when such kind of incentive is given to pump up the economy and just think that if corporations like apple and Microsoft up or FB are going pile up their huge profits in countries like Ireland or Caribbean countries in United States is not going to gain so it's better that that money comes back to the country with the lower tax bracket and that money is pumped into the economy and hence the people in the country have more effective spending power once they are hired and the economy would start expanding I think that this is the right way of looking at the tax Reform undertaken by the Trump Administration and we should appreciate that