Trump to sign tax bill before leaving for holiday

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He said he ordered up the last-minute Oval Office event because news coverage questioned whether he would sign the bill into law by Christmas.

Trump told reporters gathered in the Oval Office.

The plan, which critics say benefits the wealthy more than the middle class, lowers the corporate tax rate down from 35% to 21%, almost doubles the standard deduction for individuals, repeals the individual mandate in the Affordable Care Act and restructures the way pass-through businesses are taxed.

President Donald Trump says he's getting ready to sign into law a $1.5 trillion tax overhaul package.

It is the first major overhaul of the nation's tax laws since 1986, but far from the largest tax cuts in American history as the president claims. Republican leaders have said they're willing to take that step in pursuit of a boost to the economy.

Boca Raton Bowl 2017: Florida Atlantic vs
Interestingly, there is one common opponent: Akron beat Buffalo 21-20 and Buffalo edged FAU 34-31; that was FAU's last loss. This is Bowden's sixth season at Akron and his second bowl with the Zips, who went to the Famous Idaho Potato Bowl in 2015.

The measure, known as the the Tax Cuts and Jobs Act, is being hailed by the GOP as the biggest legislative achievement for Trump and congressional Republicans.

Supporters of the plan say the corporate tax cuts within the plan would bring corporations back to the US, leading to job creation and wage growth. Trump's plan is also smaller than cuts in 1948, 1964 and 1921, and probably in other years. The White House plans an event to celebrate the signing in the new year, on January 3.

"I said that the bill would be on my desk before Christmas", Trump said, as a Marine helicopter whirred outside, waiting to ferry him to Air Force One.

There were more big promises to come, including Trump's suggestion that he'll work with Democrats in the election year to rebuild the nation's roads and bridges. Asked whether he has any regrets over his first 11 months, he shook his head no.