US House passes tax reform bill

In the first vote on a sweeping reform of the United States tax code, the United States House of Representatives passed their tax reform bill on a vote

US Capitol

of 227 to 205, mostly along party lines.

The House reform offers significant changes to the tax code, closing numerous loopholes and utilizing those reforms to double the standard deduction, increase the child tax credit and lower income tax rates along with eliminating some income tax brackets.

The bill also reduces the corporate tax rate, with supporters saying it is needed due to the American corporate tax rate being significantly higher than other nations developed economies.

For Maine’s part, U.S. Congressman Bruce Poliquin voted in favor of the bill, citing the benefits to Maine’s middle class. Congresswoman Chellie Pingree, who represents Maine’s more liberal southern district voted against the bill.

You will be able to view the full roll-call vote here when it is posted.

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