SENATE PASSES REPUBLICAN TAX BILL IN HUGE WIN FOR TRUMP, GOP

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President Donald Trump

• The Senate passed the Republican tax bill, the Tax Cuts and Jobs Act, on Friday.
• The TCJA passed by a vote of 51-49, with Sen. Bob Corker being the only Republican to vote against it.
• The bill can either be passed as is by the House - or the two chambers will go to a conference committee.

The Senate passed the Republican tax reform bill early Saturday in a massive win for the party and President Donald Trump, who has seen many of his agenda items stall in the legislature.

The Tax Cuts and Jobs Act passed on a vote of 51 to 49. Sen. Bob Corker was the only Republican to vote against the bill. Its passage brings Republicans a step closer to their first major legislative achievement in the Trump presidency.

The vote came just three weeks after Republicans introduced the original version. It came just hours after the text of the final version of the bill was released. GOP leaders moved the bill through the chamber at breakneck speed as they attempt to send legislation to Trump's desk by Christmas.

Republican leaders won over a slew of skeptical Republican members in recent days to pass the bill. On Monday, as many as 10 GOP lawmakers were on the fence or against it, but gigantic last-minute changes were enough to ensure their support.

The changes forced the debate to stretch for hours, as Republicans released a final version of their bill with changes scribbled in the margins to the text.

The last-minute adjustments overcame a steady trickle of rough analyses of the bill. While Republican leaders and Trump administration officials promised as recently as three weeks ago that the bill would pay for itself with economic growth, the analyses have been universal: They have shown that the bill would add $1 trillion to the federal deficit over 10 years, even when accounting for the growth.

The reports from various organizations, as well as the official government scorekeeper, the Joint Committee on Taxation, showed the Senate TCJA would produce only a modest boost to the US economy that would fade over time.

Since the Senate TCJA is different from the House version of the bill, the legislation must either go to a conference committee - where members from both chambers unify the differing aspects - or the House could pass the Senate bill as it is.