The Senate approved Trump’s tax bill 51-48 in a midnight showdown earlier this week.
This is the biggest tax overhaul in 30 years.
POTUS Trump touted all of the perks in the tax bill. Trillions of dollars will be returning to the US from overseas:
.@POTUS on the tax bill: “A lot of things are going to be happening in the U.S.A.” pic.twitter.com/yhQo0xJVUJ
— Fox News (@FoxNews) December 22, 2017
President Trump also blasted Democrats on Twitter saying they only want to raise your taxes!
95% of Americans will pay less or, at worst, the same amount of taxes (mostly far less). The Dems only want to raise your taxes!
— Donald J. Trump (@realDonaldTrump) December 22, 2017
White House Press Secretary Sarah Huckabee Sanders tweeted, “.
@POTUS delivers. Tax cuts signed. Economy booming. America winning again!”
.@POTUS delivers. Tax cuts signed. Economy booming. America winning again! pic.twitter.com/cAxEjI9bRR
— Sarah Sanders (@PressSec) December 22, 2017
A quick recap of the positive response from corporations to Trump’s tax bill so far:
TRUMP EFFECT: AT&T quickly responded to this historical tax cut and announced Wednesday it will be issuing over 200,000 U.S. employees a special $1,000 bonus and will also increase US capital spending by $1 billion.
TRUMP EFFECT: Also, thanks to Republicans passing historic tax reform, Boeing has announced a new $300 million investment initiative.
TRUMP EFFECT: There’s more… Fifth Third Bancorp announced it will “raise its minimum hourly wage for all employees to $15, and distribute one-time bonus of $1,000 to more than 13,500 employees.”
TRUMP EFFECT: More winning! Comcast announced it will invest a whopping $50 billion into infrastructure projects over the next five years due to the Republicans’ tax plan. The media giant will also give $1000 bonuses to more than 100,000 employees.
TRUMP EFFECT: Canadian businesses may also be looking to migrate from Canada to the USA in the near future.
TRUMP EFFECT: It has now become affordable for Apple to fulfill a longtime goal and repatriate $252B in cash that currently sits overseas.