Trump Signs The Tax Cuts and Jobs Act Into Law, Disastrous ObamaCare Repealed

Remember this?:

Patrick Gaspard, the former Democrat National Committee executive director spewed this on Twitter when the SCOTUS allowed the ObamaCare disaster to remain due to the tax provision:

From Fox News

The House gave the final stamp of approval Wednesday to a sweeping tax reform package, handing President Trump his first major legislative victory and most Americans a tax cut starting next year.

With a 224-201 House vote, Congress sent the $1.5 trillion package to Trump’s desk. The biggest rewrite of the federal tax code since the Reagan administration will usher in steep rate cuts for American companies, double the deduction millions of families claim on their annual returns and make a host of other changes taking effect in a matter of weeks.

During a celebration at the White House with lawmakers on Wednesday afternoon, Trump called it “the largest tax cut in the history of our country” and singled out House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell for praise.

“Paul Ryan and Mitch, it was a little team,” Trump said. “We just got together and we worked very hard, didn’t we?”

……The Tax Policy Center estimates that 80 percent of taxpayers will see a tax cut next year.

……The changes to the tax system are more sweeping.

The final bill – a combination of previously passed House and Senate legislation – would slash the corporate tax rate from 35 percent to 21 percent. It would double the standard deduction used by about two-thirds of U.S. households, to $24,000 for married couples. And the $1,000-per-child tax credit would double to $2,000, with up to $1,400 available in IRS refunds for families who owe little or no taxes.


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