(CNBC) -- House Republicans on Thursday passed a monumental bill to cut taxes on businesses and individuals, the biggest step yet in the GOP's once-in-a-generation effort to overhaul the American tax system.
The tax reform plan passed the chamber with 227 votes in favor and 205 against.
To pass the bill, the House GOP had to overcome opposition from several of its members who live in high-tax blue states. Those lawmakers objected to the proposal's curb on popular state and local tax deductions.
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