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WATCH: Senate approves sweeping Republican tax bill

Update 12:55 a.m. The Senate has voted along party lines to approve the GOP’s tax overhaul. Read the latest here.

Original story:
A sweeping tax package speeding its way through Congress has cleared a key procedural vote in the Senate.

Watch as the Senate votes on the historic tax bill in the video player above.

The bill would nearly double the standard deduction used by most taxpayers, while those who itemize would lose some deductions.

The Senate voted 51-48 to begin debating the bill. The Senate voted along those same lines to pass it. The House passed the bill Tuesday afternoon, but some provisions did not meet Senate rules. GOP House Majority Leader Kevin McCarthy’s office says the House would reconsider the bill Wednesday morning and send it to President Donald Trump for his signature.

The $1.5 trillion package would provide steep tax cuts for businesses and the wealthy and more modest cuts for middle- and low-income families. The business tax cuts would take effect in January. Workers would start to see changes in the amount of taxes withheld from their paychecks in February.

Democrats said the Senate parliamentarian had found three items that violated Senate rules.

These included one provision that would let families use tax-advantaged 529 accounts for home-schooling expenses.

The problem was revealed by Vermont independent Sen. Bernie Sanders and Oregon Democrat Ron Wyden.

PBS NewsHour will update this story as it develops.

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