Washington • President Donald Trump on Friday signed the most significant overhaul of the U.S. tax code in 30 years, delivering on a pledge to finish work on the long-standing Republican priority by Christmas.
Trump signed the $1.5 trillion measure in the Oval Office shortly before he was scheduled to head to his Mar-a-Lago resort in Florida for the holidays.
The measure is the most significant legislative accomplishment for Trump in his first tumultuous year in office. Passed with only Republican votes, it will affect nearly every household and business in the country.
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 in the coming 2018 midterms, Republicans delivered the biggest gains to the wealthy.
Polls have showed the bill is unpopular, but Republicans argue Americans will view it more favorably once they start to see savings in their paychecks.