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Trump, GOP take victory lap after passage of tax bill | TheHill

posted onDecember 21, 2017
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Article snippet: MORE on Wednesday hailed the passage of the GOP’s tax overhaul, calling it the “largest” tax cut in history and declaring that it would supercharge the U.S. economy. Speaking from the South Lawn of the White House, an ebullient Trump was flanked by scores of beaming GOP lawmakers who gathered to celebrate the party’s first major legislative victory since he became president. “We broke every record,” Trump said. “It's the largest, I always say the most massive, but it’s the largest tax cut in the history of our country and reform. Something special.”  The $1.5 trillion bill provides major tax cuts for corporations and wealthy individuals and more modest reductions for the middle-class and low-income families.  While the cuts are among the largest since 1918, they are not the largest in history, according to an analysis by the Committee for a Responsible Federal Budget. Democrats have dismissed the measure as a giveaway to the wealthy. But Trump predicted that corporate tax cuts would bring companies back to the U.S and attract $4 trillion in new investments, creating more jobs and growing wages. Trump also highlighted elements of the bill he said would benefit the middle class, claiming a typical family of four would receive a tax cut of more than $2,000 a year.  "Ultimately what does it mean? It means jobs, jobs, jobs," Trump said Trump had been frustrated by the inability of Congress — and Senate Majority Leader MORE (R-Ky.) in particular — to pass his legislati... Link to the full article to read more

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