The Tax Reform Bill is a MUCH NEEDED win for the GOP
April 15th will mark the last time Americans will pay taxes based on the old, unfair, and outdated tax code. Starting in February 2018, employees will see this tax break take effect on their paychecks.
For those who have not taken the time, there are many tax calculators available for you to estimate how the reform bill will affect you directly. See http://taxplancalculator.com/
“In a 224-201 vote, Congress sent the $1.5 trillion package to Trump’s desk. The biggest rewrite of the federal tax code since the Reagan administration will usher in steep rate cuts for American companies, double the deduction millions of families claim on their annual returns and make a host of other changes taking effect in a matter of weeks.
“This bill means more take-home pay. It will be an incredible Christmas gift for hard-working Americans,” Trump said during a Cabinet meeting moments before the vote.
While the bill already earned House approval earlier Tuesday, the Senate had to ship it back for a final vote after stripping out three provisions that violated chamber rules, in a last-minute glitch.
The Tax Policy Center estimates that 80 percent of taxpayers will see a tax cut next year.
Democrats sustained their vocal opposition to the bill – they’ve dubbed it a “scam” benefiting the wealthy – into the final moments. Protesters interrupted votes in both chambers. During the Senate vote overnight, they chanted “kill the bill, don’t kill us,” as Vice President Pence repeatedly called for order.” according to Fox News.