The House approved the most sweeping tax rewrite in decades along party lines, with lawmakers voting 227-203 in support. However, the House will have to vote again after the Senate parliamentarian rejected three provisions in the Senate bill. Both chambers must pass identical bills.
In US, more people think they will be worse off after the tax bill is signed into law, and a majority of people think the tax cuts will favor the rich rather than the middle class.
On the other hand side, the law if passed would create a reverse dollar flow into US market. This would pressure the emerging markets like Mexico, Brazil, India, Turkey and Poland.
