House passes budget resolution, in key step for tax plan

The House of Representatives passed a budget resolution on Thursday, a step that Republican leaders are using to set the stage for an overhaul of the tax code. The Senate Budget Committee is planning to vote on a separate budget on Thursday, and Republicans are planning to write a single measure that will pass both chambers. Republicans are aiming to pass tax cuts through what’s known as budget reconciliation, which requires just a simple majority in the Senate. Republicans currently control the Senate with 52 seats.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Leave a Reply