Economics

Senate Suspends Bill Votes to Friday Morning: Tax Debate Update

Bloomberg’s Jodi Schneider explains why the U.S. Senate suspended votes on its tax bill. (Source: Bloomberg)
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The Senate tax bill is headed for a marathon debate this week after Republican leaders brought the measure to the floor Wednesday with the goal of holding a final vote by the end of the week. Here are the latest developments, updated throughout the day:

Senate Majority Leader Mitch McConnell said votes on the tax bill will resume at 11 a.m. on Friday as the collapse of a key compromise to win a majority for a Senate tax overhaul left Republicans scrambling to salvage the legislation.