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when president trump convinced the u.s. congress to pass his 2017 tax cut law. one of the things it did was to cut small business and corporate profit tax rates from 35 percent (which was the highest tax rate in the world) down to 21 percent. (everything said up to this point is true). conclusion: this new tax cut on business profits only reduced implicit costs.

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On December 19, 2017, the House voted to approve the bill's penultimate form. On December 20, 2017, the Senate voted to approve the final measure, 51-48.

What function does the Senate serve?

The Senate is the only body with the authority to give advice and consent to treaty ratification and to approve presidential appointments that call for it. However, there are two exceptions to this rule: any treaty involving international trade and the approval of Vice President nominees by the House.

How is the Senate chosen?

You must win election as a senator in a federal election held in your state or territory. The electorates for the Senate are multi-member, which means that a group of senators is chosen to represent the interests of all the residents of a state or territory.

To know more about Senate visit:

https://brainly.com/question/24779287

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