Wednesday 12 December 2018

Trump signs tax cut bill into law

WASHINGTON, December 23, 2017

US President Donald Trump has signed the Republican $1.5 trillion tax overhaul bill into law, cementing the biggest legislative victory of his first year in office, a Reuters report said.
He has also approved a short-term spending bill that averts a possible government shutdown.
The House and Senate passed the tax measure into law earlier this week, delivering Trump his first major legislative victory of his first year in office.
The tax package, the largest such overhaul since the 1980s, slashes the corporate rate from 35 per cent to 21 per cent and temporarily reduces the tax burden for most individuals as well.
Trump praised several companies that have announced employee bonuses in the wake of the bill’s passage, naming AT&T, Boeing, Wells Fargo, Comcast and Sinclair Broadcast Group.

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