Republicans Pass Historic Tax Reform Package | NTK Network Republicans Pass Historic Tax Reform Package

Republicans Pass Historic Tax Reform Package

President Trump has delivered on yet another promise passing a " big, beautiful tax cut" for the American people by Christmas.

By NTK Staff | 12.20.2017 @2:11pm
Republicans Pass Historic Tax Reform Package

The House of Representatives passed the historic GOP tax reform plan by a vote of 224-20 on Wednesday, fulfilling President Trump’s promise that tax reform would be accomplished before Christmas.

“With the new tax system we will deliver today, things will change for the better, and they will change immediately.” the bill’s author, Rep. Kevin Brady (R-TX), said on the House floor.

The GOP tax reform bill, known as the Tax Cuts and Jobs Act, is now on its way to the White House where President Trump will sign it in the coming days.

The passage of the GOP tax reform bill is the largest legislative achievement for President Trump and congressional Republicans in 2017.

The bill passed the Senate along party lines, 51-48, on Wednesday, and then was voted on again in the House on Thursday where it passed without any Democratic votes.

“I promised the American people a big, beautiful tax cut for Christmas,” Trump said in a statement following the passage of the bill. “With final passage of this legislation, that is exactly what they are getting.”

The Tax Cuts and Jobs Act reduces individual tax rates, reduces the corporate tax rate from 35 percent to 21 percent, repeals the corporate alternative minimum tax, and nearly doubles the standard deduction for individuals.

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