Senate Republicans Pass Massive Tax Overhaul

Senate Majority Leader Mitch McConnell, R-Ky., arrives to speak to a group of small business owners on Thursday as Republicans worked to pass their sweeping tax bill. McConnell expects it to pass on Friday.

J. Scott Applewhite / AP

Updated at 1:49 a.m. ET

The Senate narrowly approved a $1.4 trillion tax overhaul early Saturday morning following a day of procedural delays and frustration.

The legislation, which would cut the top corporate tax rate to 20 percent and lower taxes for most individuals, narrowly passed in a vote of 51-49. Tennessee Republican Bob Corker was the only Republican to vote against the legislation, joining all 48 Democrats in opposing the sweeping overhaul of the nation’s tax laws.