President Donald Trump on Friday signed into law a massive $1.4 trillion tax-cut bill, capping a yearlong effort by Republicans to slash tax rates for corporations and individuals.
Trump also signed a short-term spending bill to fund the government, just hours before the midnight Friday deadline to avoid a partial government shutdown.
The continuing resolution extends current spending levels through Jan. 19 and funds the popular Children’s Health Insurance Program until March.
“I promised the American people a big, beautiful tax cut for Christmas. With final passage of this legislation, that is exactly what they are getting,” Trump said in a recent statement about the tax plan, saying that the legislation pours “rocket fuel” into the U.S. economy. – READ MORE
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