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Trump tax reform bill narrowly approved in the House

Internet reported that on Thursday morning local time, the tax bill signed by U.S. President Trump narrowly passed the House of Representatives (215 votes to 214, with one abstention), advancing a huge trillion-dollar package to avoid a year-end tax increase at the expense of increasing the United States 'debt burden. The bill will now go to the Senate, where Republican groups are urging broad changes. Lawmakers plan to vote on approval before August. These include raising the U.S. debt ceiling by $4 trillion. The Treasury Department predicts that without raising the ceiling, the United States could default as early as August or September, adding to the urgency of the timetable.

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