The bill, passed by a single-vote margin, would fulfill many of Trump's populist campaign pledges. All of the chamber's Democrats and two Republicans voted against it. One Republican missed the vote because he had fallen asleep.

The House of Representatives voted to advance the Republicans' budget bill Thursday morning, sending the sweeping overhaul of the tax code to the Senate.

President Donald Trump’s signature tax bill advanced from the House of Representatives early Thursday. Bond investors might not like it, but the bill is only going to get more expensive from here. The measure,