Congress votes on tax bill: What the ‘Tax Cuts and Jobs Act’ means for you

The House approved the final version of the new tax reform legislation on Tuesday, meaning the bill will now head to the Senate for a late-night vote.

The bill passed on a 227-203 vote. No Democrats voted for the new legislation.

If all goes as planned, President Trump is expected to sign the bill, formally known as the Tax Cuts and Jobs Act, before Christmas.

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