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Trump signs sweeping tax bill, suggests he doesn't get enough credit

Trump signs sweeping tax bill, suggests he doesn't get enough credit”

US President Donald Trump has signed into law the first major overhaul of US tax law in almost 30 years, fulfilling a campaign promise to lower income taxes for individuals as well as corporations.

"I was going to wait for a formal signing in early January", Mr. Trump said.

"I called downstairs, I said, 'Get it ready, we have to sign it now, ' " he said.

Since Congress included the waivers in their year-end government funding bill, Trump could sign the bill in 2017, allowing numerous tax cuts to take effect by next year.

After passing the tax bill, Trump has been focused on getting the credit he thinks he deserves for his first year in office. The tax cut, which fulfilled a long-held Republican goal, was at the forefront of Trump's mind.

The bill is also not very popular among average people as a poll, before the tax cut vote, found more people have developed a dislike for the new tax bill over the past two months.

According to non-partisan analysts, Trump's new tax reform promises lower tax bills for the majority of taxpayers.

"I consider this very much a bill for the middle class and a bill for jobs".

Senator Casey also says moving forward, any infrastructure projects will become more hard to fund because of the tax cuts to corporations in this tax bill. "It's not fancy, but it's the Oval Office". Trump is expected to remain at his tropical estate and private club through Christmas and return to Washington on New Year's Day.

President Trump's signature on the bottom line of the new tax reform bill-cutting the corporate tax rate from 35% to 21%-drew more praise from inside the Beltway.

"We have more legislative victories than any other president", he said - an assertion not supported by facts.

The first major overhaul of the nation's tax laws since 1986 could add $1.5 trillion to the national debt over the next decade, according to the Congressional Budget Office.

Trump, after noting companies that announced plans to help workers after the tax bill passed, added, "Corporations are literally going wild".

Because of the approved tax reform lead by his administration, the US president was proud to announce that he was fulfilling his promise to the country.



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