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00:00:00
>>
INAUDIBL
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APPLAUSE
>> Celebrations by Republicans in the House of Representatives over their tax overhaul turned out to be premature Tuesday, after it was discovered the just-passed final bill ran afoul of Senate rules, and will have to be revoted on by the house, on Wednesday. Andy Sullivan has the details on the mistake.
00:00:18
>> They got some unwelcome news that a few elements in the bill didn't comply with Senate rules. That's gonna probably require a last-minute rewrite. They're gonna have to take those elements out. One of them gives a new tax break for private school tuition, the other one deals with private university endowments.
00:00:36
So that's gonna require the house to hold yet another vote on Wednesday, but all this does is delay the almost inevitable victory.>> What this is is real relief for families who are living out there, paycheck to paycheck, struggling to make ends meet.>> The plan permanently slashes the tax rate for U.S. corporations from 35% to 21%, and temporarily cuts taxes for millions of Americans.
00:01:00
>> It's not only good for economic growth and creating jobs, but it's historic in the simplification, where over 90% of American families will actually be able to do their taxes on a postcard.>> President Donald Trump promising a $2,000 cut for the typical American family of four. Democrats have opposed the tax plan from the beginning, saying it will widen inequality, weaken Obamacare, and put the nation $1 trillion deeper in debt.
00:01:25
>> Is there justice in a bill that explodes the national debt to give the wealthy and the well-connected a break, and sticks the debt with our children? Is that justice?>> No. I didn't think you thought so.>> If it clears the Senate as expected Tuesday night, the House will do a final vote Wednesday morning, before the bill can head to President Donald Trump's desk, for signing into law before the end of the week.