SEVERE WX : Freeze Watch View Alerts

White House, GOP celebrate passing sweeping tax bill

Republican lawmakers joined President Donald Trump on Wednesday afternoon to celebrate their largest legislative achi...

Posted: Dec 21, 2017 9:08 AM
Updated: Dec 21, 2017 9:08 AM

Republican lawmakers joined President Donald Trump on Wednesday afternoon to celebrate their largest legislative achievement of 2017, in a public ceremony spotlighting the most sweeping overhaul of the US tax system in more than 30 years.

"It's always a lot of fun when you win," Trump said at the ceremony on the White House lawn, after thanking congressional leaders including Senate Majority Leader Mitch McConnell and House Speaker Paul Ryan.

NEW: Republicans are celebrating with Trump outside the White House

Senate passed tax bill early Wednesday; the House approved the bill later

Hailing passage of the GOP's tax plan and surrounded by dozens of prominent Republicans in Congress, Trump said the package would fulfill his core campaign promise.

"It's really - it's simple. When you think you haven't heard this expression -- we are making America great again," he said, also ticking through a long list of congressional Republicans who helped guide the bill through Congress, adhering to an ambitious timeline that many considered laughable when it was unveiled just a few months ago.

Among those Republicans not at the White House on Wednesday: Sen. Susan Collins of Maine, who voted for the Senate tax bill on Wednesday morning, but also acknowledged publicly that health care subsidies she wanted as part of a government spending deal will not be included before Congress leaves for its holiday break.

The bill passed the House a second time earlier Wednesday 224-201, with no Democrats backing it and a dozen House GOP members voting no. The measure now heads to the Trump's desk for his signature.

The President will not actually sign the bill Wednesday, however. The bill will not be "enrolled" yet -- the formal term for when a final copy of a bill passed by both houses of Congress is sent to the White House.

A fractured GOP unified to pass a landmark tax plan: Here's how it came together

In a vote in the early Wednesday morning hours, the Senate approved the final version of the first overhaul of the US tax code in more than 30 years. The bill passed along party lines, 51-48, with the final result announced by Vice President Mike Pence, who presided over the vote. The House passed the bill earlier Tuesday, but technical changes were made to it in the Senate.

Uphill climb for Republicans

While Republicans cheer the bill's passage, however, 55% of Americans oppose the plan, according to a new CNN poll. Just 33% say they favor the GOP's proposals to reform the nation's tax code.

McConnell told CNN that Republicans will continue to try to sell the bill to the public.

"Absolutely. We're looking forward to it," McConnell said. "My view of this is, if we can't sell this to the American people, we ought to go into another line of work."

Trump said the "results will speak for themselves."

"The Tax Cuts are so large and so meaningful, and yet the Fake News is working overtime to follow the lead of their friends, the defeated Dems, and only demean. This is truly a case where the results will speak for themselves, starting very soon. Jobs, Jobs, Jobs!" the President tweeted.

Ryan appeared on several morning shows Wednesday to defend the legislation he's worked toward since 1993.

"When (the bill) gets in place, when people see their paychecks getting bigger in February because withholding tables have adjusted to reflect their tax cuts, when businesses are keeping more of what they earn, when they can write off their spending and hire more people, that's going to change its popularity, I am convinced," he told CBS in an interview. "So I think there's just tons of confusion out there as to what this does or doesn't do. A lot of people think it's going to raise their taxes. So the proof is in the pudding, and I think the results will speak for themselves."

Highlights of the bill

The plan -- which critics say is heavily weighted to ease the tax burden on businesses rather than the middle class -- drops the corporate tax rate down from 35% to 21%, repeals the corporate alternative minimum tax, nearly doubles the standard deduction for individuals and restructures the way pass-through businesses are taxed.

The bill keeps seven personal income tax brackets and lowers that tax rates for most brackets, including dropping the top rate to 37% from 39.6%.

For more on what exactly is in the bill's policy, check out CNN Money's full rundown.

The Joint Committee on Taxation found that all income groups will, on average, see a tax cut in 2019, though the projections worsen over time. In 2019, all taxpayers would see an 8% tax cut. The JCT, however, found that by 2027 taxpayers earning up to $75,000 would receive a tax increase -- this would stem from the sunsetting individual rate cuts in the final GOP bill, along with the repeal of Obamacare's individual mandate.

Lafayette
Partly Cloudy
48° wxIcon
Hi: 66° Lo: 36°
Feels Like: 45°
Kokomo
Partly Cloudy
45° wxIcon
Hi: 65° Lo: 34°
Feels Like: 42°
Rensselaer
Clear
41° wxIcon
Hi: 62° Lo: 32°
Feels Like: 38°
Lafayette
Partly Cloudy
48° wxIcon
Hi: 63° Lo: 36°
Feels Like: 45°
Danville
Partly Cloudy
45° wxIcon
Hi: 65° Lo: 37°
Feels Like: 41°
Frankfort
Partly Cloudy
45° wxIcon
Hi: 67° Lo: 35°
Feels Like: 40°
Frankfort
Partly Cloudy
45° wxIcon
Hi: 65° Lo: 32°
Feels Like: 40°
Monticello
Partly Cloudy
44° wxIcon
Hi: 65° Lo: 34°
Feels Like: 40°
Monticello
Partly Cloudy
44° wxIcon
Hi: 63° Lo: 35°
Feels Like: 40°
Logansport
Partly Cloudy
45° wxIcon
Hi: 64° Lo: 33°
Feels Like: 45°
Some More Frost & Light Freezing Ahead......
WLFI Radar
WLFI Temps
WLFI Planner

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 707111

Reported Deaths: 13216
CountyCasesDeaths
Marion963501718
Lake51613944
Allen39106671
Hamilton34449405
St. Joseph33979539
Elkhart27255432
Vanderburgh22060394
Tippecanoe21765212
Porter17945298
Johnson17507374
Hendricks16786310
Clark12681190
Madison12338337
Vigo12204244
Monroe11443166
LaPorte11118204
Delaware10341184
Howard9652211
Kosciusko9114114
Hancock7964139
Bartholomew7880155
Warrick7681155
Floyd7555176
Wayne6895198
Grant6837171
Boone6541100
Morgan6390138
Dubois6079117
Marshall5779108
Dearborn569876
Cass5683102
Henry5572100
Noble540683
Jackson493069
Shelby478495
Lawrence4338118
Gibson427989
Harrison427670
Clinton418653
Montgomery417786
DeKalb409184
Huntington378680
Whitley377939
Miami372465
Knox365989
Steuben364457
Putnam352560
Jasper350146
Wabash347678
Adams337952
Ripley334568
Jefferson312980
White308154
Daviess289299
Wells286281
Decatur278792
Fayette277162
Greene270685
Posey268533
Scott261053
Clay253244
LaGrange252470
Randolph235280
Washington230731
Spencer227631
Jennings224747
Fountain208445
Sullivan207742
Starke203952
Owen192156
Fulton191439
Jay186029
Carroll185720
Perry180236
Orange177253
Rush170724
Vermillion166043
Franklin165635
Tipton160943
Parke144616
Blackford133831
Pike130234
Pulaski113645
Newton103534
Brown100040
Crawford97614
Benton96713
Martin82615
Warren79615
Switzerland7698
Union69910
Ohio55711
Unassigned0408

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events