US tax package

President Trump is claiming a major victory after the Republican tax package he championed pass through all it’s stages of US government. It is a major victory for him and for the GOP, for now at least. Time will tell whether all of the US benefits, or if it is too slanted to the big corporations and to rich Americans or not.

New York Post: Trump celebrates passing of GOP tax bill at White House

President Trump took a victory lap on the South Lawn of the White House on Wednesday, hailing passage of the first comprehensive overhaul of the US tax system in three decades.

Trump lauded GOP lawmakers for delivering on the promise he made to voters to slash taxes — and said the cuts would kickstart the economy.

“Many companies have come forward saying they are so happy. We are seeing something very special, bringing the entrepreneur back into this country and you’ll see what happens,” the president said, appearing with dozens of House and Senate Republicans at the South Lawn of the White House.

“And ultimately what does it mean? It means jobs. Jobs, jobs, jobs . . . We are in a special period of time. And it’s going to be even more so,” he added.

Eleven months into the Republican president’s first year in office, the GOP-controlled Congress finally gave him his first major legislative victory — and Trump clearly savored the moment.

“This will indeed be a very big day when people look back at our country. It’s a whole different attitude, a whole different way. We are making America great again,” he said.

Perhaps this will make America (or at least the US part of America) greater, but it could also dig a financial hole.

Analysts say the bill will add $1 trillion to $1.5 trillion to America’s already deep deficit.

Democrats blasted the bill as a boon only to the rich — and to businesses like Trump’s.

“There are only two places where America is popping Champagne: the White House and the corporate boardrooms, including Trump Tower. Otherwise, Americans have a lot to regret,” Senate Minority Leader Chuck Schumer said.

But Republicans are savouring a major victory under Trump’s presidency:

Senate Majority Leader Mitch McConnell (R-Ky.) said the bill’s passage capped a year of “extraordinary accomplishment” for Trump.

House Speaker Paul Ryan (R-Wis.) praised Trump’s “exquisite presidential leadership.”

The leaders of the key tax committees also had high praise. Orrin Hatch (R-Utah), chairman of the Senate Finance Committee, called Trump “one heck of a leader.”

Kevin Brady (R-Texas), chairman of the House tax-writing Ways and Means Committee, said the “historic day” could not have been achieved without Trump’s leadership.

RCP links:

 

2 Comments

  1. David

     /  December 22, 2017

    I see Boeing, ATandT and others have announced bonuses for ALL their employees on the back of the tax reform.