Senate Republicans took the first step Thursday evening toward passing a tax plan and fulfilling a long-held campaign pledge.
Senators narrowly voted 51-49 to pass the fiscal 2018 budget after a grueling hours-long marathon on the Senate floor. Sen. Rand Paul (R-Ky.) joined with every Democrat and independent to vote against the bill.
…The budget would allow the Senate GOP’s tax plan to add up to $1.5 trillion to the deficit over a decade, a proposal that has raised concerns with fiscal hawks in the GOP. Its instructions call for the Senate Finance Committee to report a tax bill by Nov. 13.
PG View: There’s not much in the way of spending cuts in this budget, so there’s probably a whole lot more debt in our future.