Immigrants and wealthy universities, as well as foreign companies, would see higher taxes under the House-passed bill.

WASHINGTON – President Donald Trump 's sweeping tax and policy bill that would change Americans' everyday lives has cleared one big hurdle after several marathon days of negotiations in the U.S. House and an assist from the president himself. But the 1,000-plus-page legislation is still a long way from becoming a law.

Trump and Republicans are directly responsible for the spike in the 30-year Treasury bond yield and mortgage rates,” said the fourth-highest-ranking House Democrat.

The bill, passed by a single-vote margin, would fulfill many of Trump's populist campaign pledges. All of the chamber's Democrats and two Republicans voted against it. One Republican missed the vote because he had fallen asleep.

Bond investors see a lot to be worried about from Washington policy. That could have repercussions for taxpayers.