The Republican tax bill is now the law of the land. President Trump signed the massive bill before heading to his Florida estate for the holidays. Republicans say all income classes will see tax cuts but Democrats argue that the bill primarily benefits the wealthy. It is also projected to add more than one-trillion dollars to the federal deficit over 10 years.
Trump also signed another short-term spending bill that averts a government shutdown. It is the third stopgap measure that Congress has approved in recent weeks. The government was set to run out of money at midnight tonight. Responding to the North Korean nuclear crisis, the bill includes more than four-billion dollars to boost U.S. missile defense.
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