WASHINGTON, Dec. 20 -- The U.S. Congress on Wednesday finally passed the Republican bill to overhaul the U.S. tax code over three decades, sending it to President Donald Trump's desk for signature, amid concerns that the change would widen income inequality and swell public debt.

The House on Wednesday voted 224-201 to approve the 1.5-trillion-U.S. dollar tax cuts package, which would impact nearly every part of the world's largest economy, affecting both large and small businesses, as well as families.

The House passed the tax bill Tuesday afternoon, but the Senate's parliamentarian found several provisions in the bill violated budget rules, forcing lawmakers to strip them out and requiring the House to vote again.

The Senate narrowly passed the revised bill Tuesday midnight with a vote of 51-48. Now the bill, without the support of a single Democrat in Congress, will be sent to Trump's desk for signature within days and to take effect in 2018.

"By cutting taxes and reforming the broken system, we are now pouring rocket fuel into the engine of our economy," Trump said Wednesday in a statement after the final congressional passage of the tax legislation.

The final tax bill, the sweeping rewrite of U.S. tax law since 1986, would cut the corporate income tax rate to 21 percent from the current 35 percent and create a 20-percent deduction for income of pass-through businesses such as limited liability companies.

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