From the beginning, the bill's object was to get the economy moving through targeted tax relief for business and individuals, combined with simplifying the code to reduce the transaction costs of tax compliance. That was also the right thing.
The tax plan's transformation into law crystallizes the contrast between Trump's populist rhetoric and the private fortune he made by marketing condos, hotels and golf resorts to a wealthy clientele.
Under the bill, millions of Americans would stop itemizing deductions, putting tax breaks that incentivize home ownership and charitable donations out of their reach, but also making tax returns somewhat simpler and shorter.
McConnell said he'll be looking for bipartisan cooperation on immigration and an effort to ease parts of the Dodd-Frank law that regulates financial market, but Democrats won't be eager to shake hands quickly.
"It's so clear that he is financially much better off than previously", he said, adding, "I'd be at a loss as to how they could even dare to argue" otherwise.
White House officials said that the president was waiting to address infrastructure after Congress passed tax reform.
More banks have joined the parade.
I liked the way the legislation was handled. Yes, the middle class will benefit. The Democrats, meanwhile, are left with stale class-warfare slogans about tax cuts for the rich. They also banded together to confirm the nominations of Supreme Court Justice Neil Gorsuch and other top federal judges and to peel back 14 rules enacted during the final months of Barack Obama's presidency dealing with guns, the internet, education and the environment.
"For all those millions of men and women in America who are living paycheck to paycheck, who are struggling to get ahead, help is on the way".
To be sure, some of the participation bordered on the hysterical.
Clearly, Trump's determination to do good is what must have prompted Rev. Franklin Graham to declare: "Never in my lifetime have we had a @POTUS willing to take such a strong outspoken stand for the Christian faith like @realDonaldTrump". More GDP will be generated than revenues lost to the Treasury.
The Senate had earlier passed the measure 51-48 in the early hours of Wednesday. But the new version allows companies like Trump's - which own valuable property but pay few to no employees - to also reap the benefits.
America, and additional after-tax profitability.
That will be complicated by internal divisions. One such college is Berea College in Berea, Ken.
"We need more senators voting with us", Representative Michelle Lujan Grisham - one of more than a dozen House Democrats who met with Schumer to urge a "no" vote - said. The final bill passed by both chambers sets the tax credit to 25%.
"We are making America great again", Trump said at a White House celebration with Republican lawmakers.
All this is tied to a massive corporate-tax-rate deduction to 21% from 35%.
Renae Merle and Aaron Gregg talk to tax experts and learn that most taxpayers may not learn whether they get tax cuts until 2019 at the earliest.
It strips health care from 13 million people over the next 10 years.
With President Trumps signing of the big tax-cut bill, the GOP snatched victory from the jaws of defeat.
With the Congress clearing the sweeping US$1.5 trillion tax bill, it now heads to Trump for his signature.
The bill that Sen.
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