House Passes Senate Budget, Paves Way For Tax Cuts

CNBC reports:

The House on Thursday narrowly approved a Senate version of the 2018 federal budget, clearing the way for the GOP-controlled Senate to pass a massive set of tax cuts later this year.

By passing the Senate version of the budget, House Republicans kick-started the reconciliation process, a window during which the Senate can pass legislation with only a simple majority, instead of the 60 vote supermajority typically needed to end debate and move a bill to a vote.

Yet signs of the fight looming on Capitol Hill over how to pay for the $1.5 trillion in tax cuts were already visible Thursday, when a number of Republicans from states with high state taxes voted against the budget bill.