• News
  • Global News

President Trump signs $1.5tn tax overhaul into law

President Trump signs $1.5tn tax overhaul into law

President Donald Trump signed a massive $1.5 trillion overhaul of the country's tax code into law Friday, putting a seal on his first major legislative victory.

"This is the capper", Trump said of the tax package, using his last moments of the year in the White House to sign the bill before flying to Florida for the holidays.

"Every one of the networks was saying, 'Will he keep his promise?'" the president said after delaying his trip to his Mar-a-Lago resort in Florida.

The president also signed a short-term government funding bill, which averts a government shutdown.

The GOP bill dramatically slashes the corporate tax rate to 21 percent from 35 percent and it will be permanent.

While not the biggest tax cut in history, White House staff argues that the tax cuts together with the tax reforms make it the most significant tax policy bill in the history of the United States. Trump and his family will receive large tax cuts.

Novak Djokovic and Stan Wawrinka win Australian Open first round matches
Garcia subdued Carina Witthoft 6-3, 7-5, while Pliskova had little trouble in dismantling Paraguayan Veronica Cepede6-4, 6-3. On the men's side, Sam Querrey was ousted after losing, 6-4, 7-6 (6), 4-6, 6-2, to the 80th-ranked Marton Fucsovics.

Trump continued to pitch the new law as a win a for the middle class, insisting that even though polling indicates the tax cut is unpopular, the results will win people over. Cutting corporate taxes will not bring those jobs back and will not lead to higher wages for American workers.

The left-leaning Democratic opposition unanimously opposed the 500-page legislation, calling it a "scam" and saying it mainly benefits the wealthy and will add at least 1 trillion dollars to the USA national debt. "We are very proud of it", Trump said.

President Donald Trump had not yet officially signed the Tax Cut and Jobs Act into law when it started paying both economic and political dividends. Traditionally, Democrats have advocated spending on transportation projects and other infrastructure, but it's unclear whether they will embrace Trump's approach or be eager to work with a president who has frequently attacked them.

WASHINGTON, D.C. (WBRE/WYOU-TV) Americans now have a new tax cut plan in place.

The GOP passed tax reform without a single vote from the Democrats.

The formal signing was initially planned for January, but Trump said he made a decision to move up the date after being displeased with media reports.

Leave Your Comment

Leave Your Comment

Latest News

Breaking News


Nintendo Labo Costs £60 And Upwards In The UK

For those who were completely enamored by the robot suit and game, as you may have guessed, you'll want to go for the Robot Kit . Building toys as a kid is as old as Lincoln Logs, and Nintendo should be commended for meshing new and old in a meaningful way.

With 7 more flu deaths in Dallas County, toll doubles last season's

There have been 38 reported deaths in Dallas County, three in Tarrant County and two in Denton County. Nearly 36,000 people die every year, according to the Centers for Disease Control and Prevention.

ChaiOS "Text Bomb" Crashes iMessage App on macOS and iOS

Since this exploit relies on automatic link previews, typical security advice - don't click on random links - doesn't apply. He said he'd reported the bug to Apple the previous day, he told BuzzFeed , but had not heard anything from the company.

Turkey's Erdogan tells NATO will take all precautions for national security

The Defense Department's language is nearly word for word what the US policy toward Iraq was during former President George W. Turkish long-range artillery has also been firing on Kurdish positions in Afrin.

Turkey vows to destroy US-backed Syrian forces

But a US decision to back Kurdish fighters in northern Syria in recent years has enraged Ankara. The United States says it has about 2,000 troops in Syria in the battle against Islamic State.

Gerrit Cole to Houston Astros from Pittsburgh Pirates

He's 11-12 with a 4.77 ERA in that time, but finished out 2017 by posting a 1.44 ERA over 31 1/3 innings of relief. Houston's rotation last season was shouldered by Dallas Keuchel , who posted a 3.9 WAR and was named an All-Star.

Damien Harris Will Stay At Alabama

Payne was a key run-stopper in the middle and also had an interception and touchdown catch in the semifinal win over Clemson. ESPN's Mel Kiper Jr. rates Ridley as the draft's top receiver and the 10th-best player overall in his big board .

Trump says Russian Federation probe is a 'Democrat hoax'

President Trump is downplaying the possibility that he'll take part in an interview with FBI investigators. Q&A Who is running the Trump-Russia investigations? Virginia Sen.

Kia Niro EV shows brand's electric future

Woong-chul Yang said: "Kia's connected cars will be both boundless and connected and offer a new kind of mobility experience". It is, we're assured, built using new production technology earmarked for "near-future EVs " from the South Korean giant.

Oprah Delivers Inspiring Speech for Cecil B. DeMille Award at Golden Globes

It is not the first time that Winfrey's name has been associated with a White House . Secretary of State Hillary Clinton in her losing 2016 campaign against Trump.