WASHINGTON — The House passed a nearly $1.5 trillion tax bill on Thursday that would slash tax rates on corporations and private businesses, overhaul the individual tax code and eliminate taxes on wealthy heirs. The 227-205 vote on the Tax Cuts and Jobs Act is a victory for Speaker Paul Ryan, R-Wis., and for President Donald Trump, who spoke to Republican members ahead of the vote. "This country has not rewritten its tax code since 1986," Ryan said at a press conference after the vote. "The powers of the status quo in this town are so strong. Yet 227 men and women of this Congress broke through that today." But the legislation faces an uncertain future in the Senate, where Republican leaders are still trying to build consensus among members for their own tax bill, which contains significant differences. On Thursday, the Joint Committee on Taxation (JCT) delivered the bill a blow with an analysis that predicted it would raise the average tax rate for Americans making under $75,000 by 2027. Under the House legislation, the top corporate tax rate would be reduced from 35 percent to 20 percent and to 25 percent for certain pass-through businesses. The individual tax code would be reduced from seven brackets to four with a top rate of 39.6 percent. It would reduce and then end the estate tax, which currently applies to inheritances over $5.6 million for individuals. Republicans hailed the bill's passage, arguing it would simplify the tax code by eliminating various deductions, boost American companies competing overseas and reduce taxes on middle income families. "With this bill, we will deliver a new tax code built for a new era of American prosperity," the House Ways and Means chairman, Rep. Kevin Brady, R-Texas, said in a floor speech. But Democrats, who unanimously voted against the legislation, pointed out that its gains would disproportionately benefit corporations and wealthy individuals, and that a minority of middle-class families would see a tax increase. Some of the bill’s tax cuts, like a $300 family credit, are temporary and it also uses an inflation rate that’s expected to gradually reduce benefits over time compared to current law. "Vulnerable House