Trump signs $1.5 trillion tax overhaul into law
WASHINGTON, D.C. — President Donald Trump has signed into law a $1.5 trillion tax overhaul package.
Trump touted the size of the tax cut, declaring to reporters in the Oval Office before he signed it Friday that “the numbers will speak.”
The president said he was going to wait to sign it until after Jan. 1 but changed his mind.
The legislation provides generous cuts for corporations and the wealthiest Americans and smaller ones for the middle class and low-income families.
It is the first major overhaul of the nation’s tax laws since 1986, but far from the largest tax cuts in American history as the president claims. Politically, it marks the Republicans’ first major legislative accomplishment of Trump’s presidency.
Some estimates say the cuts could add to the nation’s soaring deficit.
Trump signs bill to keep government running
President Donald Trump has signed a temporary spending bill to keep the government running, for now.
Trump signed the bill in the Oval Office as he prepared to leave Washington for a Christmas visit to his Florida estate.
The president is tweeting that bill also provides a much-needed boost for missile defense.
Before breaking for the holidays, the Republican-led House and Senate passed a temporary spending bill to avoid a government shutdown.
The bill puts off until the new year some big disputed issues, including immigration, health care and the federal budget.
Also left unfinished is a bipartisan effort to smash budget limits that are imposing a freeze on the Pentagon and government agencies.