The Trump tax reform bill was narrowly approved in the House of Representatives

According to a report by Golden Finance, on Thursday morning local time, the tax bill signed by US President Trump was narrowly passed in the House of Representatives (215 votes to 214, with one abstention), advancing a massive trillion dollar package at the cost of increasing the US debt burden and avoiding tax increases at the end of the year. The bill will now be submitted to the Senate, and Republican groups are urging for extensive revisions. The legislators plan to approve the vote before August. This includes raising the US debt ceiling by $4 trillion. The Ministry of Finance predicts that if the ceiling is not raised, the US may default as early as August or September, thus increasing the urgency of the timetable.