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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.

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.

"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 GOP contends that the more than $1.4 trillion in tax cuts contained in the bill will spark business investment, hiring and wage growth. Democrats call the Republican proposal a giveaway to corporations at the expense of the middle class, issuing dire warnings about the $1 trillion or more it is projected to add to federal budget deficits over a decade.

The enactment of the tax overhaul hands Republicans a much-needed victory going into next year's midterm elections. Democrats have seized on dismal public opinion polling on the plan and the fact that most individual tax cuts would expire under it while a massive corporate tax decrease would be permanent.

The short-term spending bill, while not nearly as large or as contentious as the tax reform, was nonetheless critical to avoiding what could have been a disastrous government shutdown over the holidays.

The legislation, which passed the House and Senate on Thursday, also contained a "pay-go waiver," a brief paragraph that suspends the rules governing how Congress has to pay for certain programs. Without the waiver, Trump would have had to wait until the new year to sign the bill.

The president was scheduled to leave Washington for Florida immediately after the bills were signed.

https://www.cnbc.com/2017/12/22/trump-signs-gop-tax-plan-short-term-government-funding-bill.html

I think it will be okay - nobody has the magic wand to really predict the outcomes of the tax overhaul for America. At least if it doesn't work, we can always go back and make amendment.
Hope it helps us break into upper class PDPGuy, Lucas, Mindfulness, and all let's hear a resounding
amen!
Break through is coming downnnnnnnnnnnnn in 2018!!

armyofone:
I think it will be okay - nobody has the magic wand to really predict the outcomes of the tax overhaul for America. At least if it doesn't work, we can always go back and make amendment.
Hope it helps us break into upper class PDPGuy, Lucas, Mindfulness, and all let's hear a resounding
amen!
Break through is coming downnnnnnnnnnnnn in 2018!!

You can go back and make amendments? How? Start another war to justify your high military budget or trigger another economic crisis that does not only affect America but the world? By the way, I thought you were highly indebted and I thought the GOP were the party of fiscal responsibility? How is Trump going to finance infrastructure programs now? And who is going to pay for the wall? Last time I checked, Mexico refused to pay a dime.

I agree with you. The whole thing is like going to Las Vegas to play lotto-
Let's see if the big businesses will bring their business back home as he said. We will wait to see how the new changes improve small business or if companies spring up like mushrooms.
Merry Christmas to you and everyone!

Mindfulness:
You can go back and make amendments? How? Start another war to justify your high military budget or trigger another economic crisis that does not only affect America but the world? By the way, I thought you were highly indebted and I thought the GOP were the party of fiscal responsibility? How is Trump going to finance infrastructure programs now? And who is going to pay for the wall? Last time I checked, Mexico refused to pay a dime.

armyofone:
I agree with you. The whole thing is like going to Las Vegas to play lotto-
Let's see if the big businesses will bring their business back home as he said. We will wait to see how the new changes improve small business or if companies spring up like mushrooms.
Merry Christmas to you and everyone!

I believe that one positive effect of the tax reform is that it will improve the situation for small to medium-size businesses but multinationals will not hire more people, neither will they return from low-wage countries.

Christmas was merry indeed. Hope, so was yours.