“Republicans are on the verge of passing the most significant overhaul of the tax code since 1986, after the Senate passed the GOP plan early Wednesday morning and House leaders scheduled a vote to quickly send it to President Trump,” the Washington Post reports.

“The sprawling plan would cut the corporate tax rate dramatically and provide new breaks for other businesses. It also would lower income tax bills in 2018 for the vast majority of households, though the wealthy would see far more relief than the middle class and working poor.”

“The bill passed the Senate 51 to 48 just before 1 a.m., with no Democrats backing the bill while all Republicans present voted for it. Sen. John McCain (R-AZ) did not attend the vote as he undergoes treatment for brain cancer. He said earlier this month that he supported the bill.”

Speaker Paul Ryan “plans to pass a continuing resolution later this week to fund the government until Jan. 19, but there are major disagreements within the House GOP over the move. There are also disputes between House and Senate Republicans, as well as the ever-present struggle with Democrats,” Politico reports.

“Right now, no one on either side of the Capitol has any clear idea how this three-way funding fight will play out, but all the major factions are digging in. Lawmakers and aides said the House and Senate could end up ‘ping-ponging‘ a spending bill back and forth until the issues are resolved, although some worry that Congress could blunder into a shutdown. Ryan on Tuesday instructed lawmakers not to leave town, signaling how concerned leadership is about the Friday funding deadline.”

A new NBC News/Wall Street Journal poll finds the Republican tax plan has grown more unpopular in the last two months, with nearly two-thirds of Americans believing it’s designed mostly to help corporations and the wealthy.

In addition, the survey finds that Democrats have overtaken Republicans on which party better handles the economy.

“House Republicans will need to pass their tax plan for a second time after the Senate parliamentarian ruled that provisions in the bill violated the rules governing the legislation,” The Hill reports.

A final vote is now expected on Wednesday.

“The House of Representatives put the U.S. on the brink of a $1.5 trillion tax cut and the largest structural overhaul of the tax system since 1986,” the Wall Street Journal reports.

“The final version of the Tax Cuts and Jobs Act sailed through the House Tuesday afternoon on a 227-203 vote without a hint of last-minute drama. All present Democrats and just 12 Republicans, largely from high-tax states, voted no.”

NPR: “Senate Republicans are now set to debate the bill and could vote Tuesday evening. That means that by the time many Americans go to bed on Tuesday, Congress may have passed Republicans’ tax overhaul bill.”