The Senate approved Trump’s tax bill 51-48 in a midnight showdown earlier this week.
This is the biggest tax overhaul in 30 years.
President Trump signed the tax bill into law Friday before heading to Mar-a-Lago.
POTUS Trump touted all of the perks in the tax bill. Trillions of dollars will be returning to the US from overseas:
.@POTUS on the tax bill: “A lot of things are going to be happening in the U.S.A.” pic.twitter.com/yhQo0xJVUJ
— Fox News (@FoxNews) December 22, 2017
President Trump also blasted Democrats on Twitter saying they only want to raise your taxes!
95% of Americans will pay less or, at worst, the same amount of taxes (mostly far less). The Dems only want to raise your taxes!
— Donald J. Trump (@realDonaldTrump) December 22, 2017
White House Press Secretary Sarah Huckabee Sanders tweeted, “.@POTUS delivers. Tax cuts signed. Economy booming. America winning again!”
.@POTUS delivers. Tax cuts signed. Economy booming. America winning again! pic.twitter.com/cAxEjI9bRR
— Sarah Sanders (@PressSec) December 22, 2017
A quick recap of the positive response from corporations to Trump’s tax bill so far:
TRUMP EFFECT: AT&T quickly responded to this historical tax cut and announced Wednesday it will be issuing over 200,000 U.S. employees a special $1,000 bonus and will also increase US capital spending by $1 billion.
TRUMP EFFECT: Also, thanks to Republicans passing historic tax reform, Boeing has announced a new $300 million investment initiative.
TRUMP EFFECT: There’s more… Fifth Third Bancorp announced it will “raise its minimum hourly wage for all employees to $15, and distribute one-time bonus of $1,000 to more than 13,500 employees.”
TRUMP EFFECT: More winning! Comcast announced it will invest a whopping $50 billion into infrastructure projects over the next five years due to the Republicans’ tax plan. The media giant will also give $1000 bonuses to more than 100,000 employees.
TRUMP EFFECT: Canadian businesses may also be looking to migrate from Canada to the USA in the near future.
TRUMP EFFECT: It has now become affordable for Apple to fulfill a longtime goal and repatriate $252B in cash that currently sits overseas.
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