Friday, 22 June, 2018

Donald Trump signs Tax Cuts Act into law

Donald Trump signs Tax Cuts Act into law Donald Trump signs Tax Cuts Act into law
Andrew Cummings | 26 December, 2017, 04:01

Washington D.C. (U.S.A), Dec 23 (ANI): "United States President Donald Trump has signed the Republicans" massive Dollars 1.5 trillion tax overhaul into law, before leaving for his Mar-a-Lago estate in Florida for the winter holidays.

Trump decided against doing a formal signing ceremony early next year because television news networks questioned whether he would keep his promise to sign the legislation before Christmas. And he called downstairs and said get it ready, we have to sign it now.

According to CBS News, the president started his Christmas weekend off Friday night by letting his dinner guests know that they would be benefitting from the tax cuts that he just signed into law.

He walked through various provisions of the bill, which he touted as "a bill for the middle class and a bill for jobs", adding that "corporations are literally going wild".

"President Trump has used an America First foreign policy to restore respect for the United States throughout the world and to advance our interests", the White House said in a fact sheet titled 'Year One of Making America Great Again". This is a phenomenon that nobody even thought of, and now it is the rage. That's a major change but far from end of "Obamacare", as Trump has suggested.

Mr Trump previously told Democratic senators he would be a "loser" as a result of the changes, while White House Press Secretary Sarah Huckabee Sanders said last week: "In some ways, particularly on the personal side, the President will likely take a big hit". "It's going to be fantastic for the economy", he told reporters at the Oval Office while signing the bill.

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They pouted up a storm for a joint picture before Kim zoomed in on Khloe's rounded tum, over which she'd placed a protective hand. It is the first time since rumors of her pregnancy broke that her followers have had a concrete time line.

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The plan also gives unlimited local, STD and roaming calls along with unlimited SMS across all operators for the 28-day period. As a part of this offer, customers will get advantage of unlimited local and STD calls even while roaming in India.

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"Trump approved a new Iran strategy focused on neutralising Iran's regional destabilising influence, sanctioning Iran's ballistic missile program, and decertifying Iran's compliance with the multilateral nuclear deal", the White House said. The money saved will be used, among other things, to raise the estate tax threshold for the very wealthiest from $11 million to $22 million (the House wanted to eliminate the estate tax altogether), and to increase the threshold for the Alternative Minimum Tax, which was enacted decades ago to prevent rich families from using tax loopholes and credits to reduce their tax bill to next to nothing. Passed with only Republican votes, it will affect almost every household and business in the country.

It was initially thought that Mr Trump would wait until the new year before signing the package into law, but instead, he decided to make it one of his final items of business before jetting off to his Florida estate for Christmas.

Under the new tax law, individual rates will be lowered, but those cuts are set to expire in 2025. The tax credit for children also will double, which Republicans have said will benefit lower-income families.

Independent analysts have shown that while most Americans will benefit from the measure, the cut for the woking and middle class will expire while those for corporations will not.

It also ends fines for people who don't carry health insurance. Congressional Republicans trying to communicate the benefits of their bill to help their bid to maintain a majority in 2018 probably just wish he hadn't said it out loud.

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