U.S. Republicans have joined President Trump in celebrating their first major legislative
accomplishment of the year.
The House of Representatives on Wedensday gave its final approval to the most sweeping
tax reform since the 1980s.
Ro Aram reports.
President Trump has finally got his first big win in Congress after a year of GOP infighting
and political stumbles.
The largest tax reform bill since 1986 now heads to Trump's desk to be signed into law
at a later date for technical reasons.
But, before that he joined his fellow Republicans to celebrate outside the White House.
He said the one-and-a-half-trillion-dollar package will create jobs and boost the economy
and also left room to say his trademark statement.
(English) Reuters - Edit No3210 "We are going to bring at least four trillion
dollars back into this country.
Money that was frozen overseas and in parts and worlds and, some of them don't even like
us.
And they had the money.
Well they're not going to have the money long.....And so it's really, I guess it's very simple,
when you think you haven't heard this expression, but, we are making America great again.
You haven't heard that, have you?"
But, Democrats call the legislation a boon to the rich.
(English) Reuters - Edit No3211 "The president does very well under this bill,
most of his cabinet does very well under this bill, a large percentage of his contributors
do very well under this bill.
Yes the president is part of the top 1 percent.
And the bill is aimed to help the top 1 percent."
The president himself, while praising the bill, cited the deep cut in the corporate
tax rate, from 35 to 21 percent, as "probably the biggest factor in our plan."
American individuals making less that 75-thousand dollars a year will get temporary tax cuts,
but after the year 2027, may see the rate increase.
Democrats also argue that the tax reform plan will blow up national debt.
House Speaker Paul Ryan said the GOP is willing to risk running up deficits with the aim of
getting a higher annual economic growth rate.
Though Democrats are furious over the new policy, they remain upbeat about the potential
political fallout in next year's congressional elections.
Ro Aram, Arirang News.
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