Bush tax cuts

 The U.S. Senate narrowly approved a tax overhaul, moving Republicans and President Donald Trump a big step closer to their goal of slashing taxes for businesses and the rich while offering everyday Americans a mixed bag of changes, reported Reters. 

U.S. President Donald Trump proposed on Sept. 27 the biggest U.S. tax overhaul in three decades, calling for tax cuts for most Americans, but prompting criticism that the plan favors business and the rich and could add trillions of dollars to the deficit.

The midterm Congressional Elections in the U.S. on Nov. 4 marked a setback for the Obama Administration, as Republicans gained control of both houses of Congress for the first time since 2006.