December 20, 2017
After months of negotiations, false starts, and several disturbances — Republicans have cast their final vote in approval of the long-awaited tax bill.
The House officially passed the GOP’s sweeping tax reform bill.
The Republican legislation passed on a 224-to-201 vote along party lines Wednesday.
The bill cuts the corporate tax rate to 21-percent, lowers seven individual tax brackets, and repeals the Obamacare mandate.
It will now head to the president’s desk for his signature, delivering on his promise to bring tax cuts to Americans by Christmas.
— Donald J. Trump (@realDonaldTrump) December 20, 2017
The historic tax cuts also mark the first big legislative success for the Trump Administration.
The new law will also simplify the tax code itself.
President Trump calls the tax reform vote a “historic victory.”
During Wednesday’s cabinet meeting at the White House today, he said the bill will provide a “tremendous amount of relief for the middle class,” including making farms and certain small businesses exempt from the estate tax.
He thanked house speaker Paul Ryan and Senator Mitch McConnell for their leadership on the bill, calling it a Christmas gift for hard-working Americans.
President Trump has said infrastructure will be the next item on the GOP’s agenda.