Trump signs tax, government spending bills into law - AOL News
Trump signs tax, government spending bills into law - AOL News WASHINGTON, Dec 22 (Reuters) - U.S. President Donald Trump signed Republicans' massive $1.5 trillion tax overhaul into law on Friday, cementing the biggest legislative victory of his first year in office, and also approved a short-term spending bill that averts a possible government shutdown. The two pieces of legislation represent Trump's most significant accomplishment with Congress since taking office in January, as well as a sign of what awaits when he returns from his Mar-a-Lago resort in Florida after the Christmas holiday. The tax package, the largest such overhaul since the 1980s, slashes the corporate rate from 35 percent to 21 percent and temporarily reduces the tax burden for most individuals as well. Democrats had opposed the bill as a giveaway to the wealthy that would add $1.5 trillion to the $20 trillion national debt during the next decade.