The U.S.  Senate adopted a bill on the largest tax reform over the last 30 years at the meeting, promised earlier by President Donald Trump. The initiative has already been supported by the necessary number of senators, Tass reports.

This is a draft bill that was previously agreed by both chambers of Congress. On December 19, the document was supported by the House of Representatives. However, the Congress has not yet completed work on the reform: by evening it turned out that some formal mistakes were made while drafting the document. The Senate had to immediately make corrections, slightly correct the text, so that the lower house could have to vote for it again on 20 December.

The initiative itself provides reducing the tax rate for business from the current 35% to 21%. The norm should come into force in 2018.

In addition, the scale of taxation for ordinary Americans is changing. So, instead of taxes in 10%, 15%, 25%, 28%, 33%, 35% and 39.6% the following thresholds are set: 10%, 12%, 22%, 24%, 32%, 35% and 37%. However, many of the statutory indulgences for the population are temporary.