House passes budget, 216-212, setting up tax reform

The 216-212 vote allows Congress to enact tax cuts later that increase the federal deficit by up to $1.5 trillion over 10 years. The bill could pass the Senate with just 50 votes — plus a tie-breaker from Vice President Mike Pence — bypassing the need for any Democratic support.

While Republicans haven’t outlined a full plan, their tax framework calls for doubling the standard deduction for individuals and reducing the current seven income brackets to three — 12 percent, 25 percent and 35 percent, with a possible fourth bracket for top earners. Those tax cuts may be funded by limiting the deduction for state and local income and property taxes, an idea opposed by some GOP moderates from high-tax states.