(Bloomberg) -- House Republicans passed their version oflegislation to overhaul the U.S. tax code byslashing the corporate tax rate, lowering tax burdens for mostindividuals and adding an estimated $1.4 trillion to the federaldeficit over the next decade.

The vote Thursday represents a key milestone in President DonaldTrump’s quest to cut taxes for businesses and individuals -- thoughchallenges remain for the GOP’s far-reaching tax plans tofundamentally reshape aspects of the U.S. economy.

The Senate is debating its own separate plan, and itisn’t yet clear the chamber will have enough votes to pass it.

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