Trump tax reform bill narrowly approved by House of Representatives

Odaily Planet Daily News: The tax bill signed by US President Trump passed the House of Representatives with a narrow margin (215 votes to 214, with one abstention), advancing a massive multi-trillion dollar package that avoids year-end tax increases at the expense of increasing the US debt burden. The bill will now be submitted to the Senate, where Republican groups are urging extensive revisions. Lawmakers plan to vote on approval before August. This includes raising the US debt ceiling by $4 trillion. The Treasury Department predicts that if the ceiling is not raised, the United States may default as early as August or September, adding urgency to the timetable. (Jinshi)