US House passes Tax Reforms Bill; "Largest tax cut ever", says President Trump

Dec 21,2017

US House of Representatives passes amended Senate version of Tax Bill (Tax Cuts & Jobs Act), ushering in historic tax reforms and sweeping changes to the US tax code; Corporate tax rate slashed from 35% to 21%, corporate minimum alternate tax eliminated and pass through deduction set at 20%; Bill provides for 7 brackets of Individual tax rates, with top rate coming down from 39% to 37%; Triumphant President Trump terms it the "largest tax c...

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