TL;DR
President Donald Trump signed a $1.5 trillion tax overhaul package into law, which will cut the corporate rate from 35 percent to 21 percent and temporarily reduce the tax burden for most individuals. The massive tax package is the largest overhaul since the 1980s.
Today, President Donald Trump signed into law a $1.5 trillion tax overhaul package. The massive tax package is the largest overhaul since the 1980s and is regarded as the first major legislative accomplishment since Trump took office in January of this year.
According to Fox Business, the bill will cut the corporate rate from 35 percent to 21 percent and temporarily reduce the tax burden for most individuals. Democrats have been opposed to the bill, concerned about what it would add to the national debt while Republicans are divided on what next steps will be when restructuring federal benefits programs.
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This story was originally published in 1851 Franchise on December 22, 2017. Burnaze summarizes and links to the original reporting.
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