December 20, 2017

Congress on Wednesday passed the most significant overhaul of the U.S. tax code in 30 years, delivering a landmark legislative victory to President Trump and the Republicans that had once seemed impossible for the fractured party.

The sweeping measure imprints a clear conservative vision on the tax code that will affect nearly every household and business. Corporations will see a massive tax cut, while most Americans will see temporary savings of various sizes. And in a move that may prove politically perilous, Republicans delivered the biggest gains to the wealthy.

The bill’s passage comes after Republicans had consolidated their hold in Washington but became entangled in a string of high-profile failures during their first year in power. This time, the GOP was able to hold together, driven in part by fear of ending the year without a single major legislative achievement.

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https://www.washingtonpost.com/business/economy/gop-tax-bill-passes-congress-as-trump-prepares-to-sign-it-into-law/2017/12/20/0ba2fd98-e597-11e7-9ec2-518810e7d44d_story.html?hpid=hp_hp-top-table-main_taxreform-1257pm-blurb%3Ahomepage%2Fstory&utm_term=.e583c0811cd8