Trump has just signed the Republican tax bill into law in the Oval Office without all of the pomp and circumstance I was expecting…
BREAKING: President Trump signs GOP tax bill into law https://t.co/IutWbX6X3v
— CNBC (@CNBC) December 22, 2017
President Donald Trump on Friday signed into law a massive $1.4 trillion tax-cut bill, capping a yearlong effort by Republicans to slash tax rates for corporations and individuals.
“I promised the American people a big, beautiful tax cut for Christmas. With final passage of this legislation, that is exactly what they are getting,” Trump said in a recent statement about the tax plan, saying that the legislation pours “rocket fuel” into the U.S. economy.
The AP also tweeted this out, putting their bias about the tax bill right in the tweet:
BREAKING: President Trump signs into law $1.5 trillion tax overhaul offering big cuts for business, smaller ones for middle class.
— The Associated Press (@AP) December 22, 2017
Even in these announcement tweets they want people to believe that they are getting the raw end of the deal in this tax cut, which is not true at all.
Yes there’s a big drop in the corporate tax rate, but that’s because it was the one of the highest corporate tax rates in the world. How hard is this to understand? If we want to be competitive in a global market and want businesses to flourish, we need drop the rate. And that’s good for workers too!
It’s really like a double whammy for many people, who both get a tax cut and a pay raise because businesses also got a big tax cut.
Trump also signed a stop-gap spending bill to avoid a government shutdown:
Trump also signed a short-term spending bill to fund the government, just hours before the midnight Friday deadline to avoid a partial government shutdown.
The continuing resolution extends current spending levels through Jan. 19 and funds the popular Children’s Health Insurance Program until March.
Here’s video of Trump signing the tax bill:
MOMENTS AGO: President Trump signs sweeping tax legislation before departing the White House for the holidays https://t.co/KfPSPN5oXY pic.twitter.com/UnqI8Jpnmz
— CBS News (@CBSNews) December 22, 2017
JUST IN: President Trump signs GOP tax bill into law pic.twitter.com/8Di6VuiZlu
— NBC News (@NBCNews) December 22, 2017