Trump Signs $1.5 Trillion Tax Cut in First Major Legislative Win
- Signing had been delayed until Congress passed spending bill
- Law slashes corporate tax rate to 21 percent from 35 percent
Donald Trump prepares to sign the Tax Cut and Reform Bill on Dec. 22.
Photographer: Brendan Smialowski/AFP/Getty Images
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President Donald Trump signed the Republican tax-overhaul bill to little fanfare on Friday, delivering a major tax cut to U.S. corporations along with a package of temporary cuts for other businesses and most individuals.
“I consider this very much a bill for the middle class and a bill for jobs,” Trump told reporters in the Oval Office before signing the legislation. “Corporations are literally going wild over this. I think even beyond my expectations.”