5 percent of their income for the next two years Republicans were able to convince all but one of the holdouts in their ranks to vote for the measure after a flurry of amendments.One amendment included in the bill was an AARP-supported initiative by Sen.Susan Collins (R-Maine), which allows all filers to deduct medical expenses greater than 7. Senate Passes Tax Overhaul Plan Advocacy Congress Nears Deal on Tax Overhaul The House and Senate must now reconcile their versions of the bill Alamy An AARP Public Policy Institute analysis finds people ages 50 to 64 would be especially hard hit.The Senate passed a sweeping early Saturday, setting the stage for a law that would lead to major tax rate cuts for corporations and a mixed impact on individuals, raising taxes and health care premiums for millions of older Americans.It would also dramatically increase the deficit, putting critical programs like Medicare at risk.The Tax Cut and Jobs Act was approved 51 to 49, with no Democratic support.
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