Trump's tax reform bill was narrowly approved in the House of Representatives, and the next step is to "pass" the Senate

On May 22nd, local time on Thursday morning, the tax bill signed by US President Trump passed the House of Representatives by a narrow margin (215 votes to 214, with one abstention), advancing a massive multi-trillion dollar package that avoided year-end tax increases at the expense of increasing the country's debt burden. The bill will now go to the Senate, where Republican groups are urging extensive changes. Lawmakers plan to vote on approval by August. These include raising the US debt ceiling by $4 trillion, and the Treasury Department predicts that if the ceiling is not raised, the US could default as early as August or September, adding urgency to the timetable.