WASHINGTON (AP) - President Donald Trump signed the $1.5 trillion tax overhaul into law Friday, using his last moments in the White House before flying to Florida for the holidays to celebrate a much-needed political win.
He also signed a temporary spending bill to keep the government running and provide money to upgrade the nation’s missile defenses. The tax cut, which fulfilled a long-held Republican goal, was at the forefront of Trump’s mind.
Starting next year, the new law will give big cuts to corporation and wealthy Americans and more modest reductions to other families. Trump continued to pitch it as a win for the middle class, insisting that even though polling indicates the tax cut is unpopular, “the numbers will speak” for themselves.
“I don’t think we are going to have to do much selling,” Trump told reporters in the Oval Office.
The tax law is the largest since 1986, but far from the biggest in American history, as the president repeatedly claims. It also is projected to add to the nation’s debt, something that was anathema to Republicans for years.
Passage of the tax bill marked a significant victory for a president hungry for one after chaos and legislative failures during his first year in office - including an effort to repeal former President Barack Obama’s health care law - despite Republican control of Congress. Trump also ended the year with his sights still trained on the way the media treat him, tweeting that the mainstream media “NEVER talk about our accomplishments in the end of year reviews.”
“We are compiling a long @ beautiful list,” he tweeted.