President Donald Trump and Republican members of Congress will gather Wednesday afternoon for a ceremony celebrating the passage of the GOP’s sweeping tax bill. You can watch live video above when it begins at 3 p.m. Eastern.
The victory celebration comes after a late night 51-48 vote along party lines by the Senate and a 224-201 vote of the House. No Democrats supported the bill and 12 House Republicans voted against it. Trump is expected to sign the bill into law later this week.
“I promised the American people a big, beautiful tax cut for Christmas. With final passage of this legislation, that is exactly what they are getting,” Trump said in a statement after the final House vote. “I would like to thank the members of Congress who supported this historic bill, which represents an extraordinary victory for American families, workers, and businesses. Unemployment continues to fall, the stock market is at a record high, and wages will soon be on the rise. By cutting taxes and reforming the broken system, we are now pouring rocket fuel into the engine of our economy. America is back to winning again, and we’re growing like never before. There is a great spirit of optimism sweeping across our land. Americans can once again rest assured that our brightest days are still to come.”
House Speaker Paul Ryan said on Twitter, “Today, Congress approved a once-in-a-generation tax reform bill. Now, this historic legislation will be sent to the president’s desk so Americans can start 2018 with a new tax code. Christmas is coming early for the American people.”
Senate Majority Leader Mitch McConnell said in a statement, “Last night, the United States Senate accomplished something remarkable. After years of work, dozens of hearings, and an open process, we passed an historic overhaul of our nation’s tax code. It will deliver real relief to families and small businesses across the nation. We passed tax reform to spur the American economy; To encourage job creation and grow economic opportunity; To bring jobs and investment home; And to put more money into the pockets of the hardworking men and women we represent.”
He added, “We voted to repeal Obamacare’s individual mandate tax, so that low- and middle-income families are not forced to purchase something they either don’t want or can’t afford. And we voted to responsibly develop more of Alaska’s oil and gas potential, strengthening our economy and our national security in the process.”
While Republicans are celebrating the bill, Democrats are speaking out harshly against it.
Senate Minority Leader Chuck Schumer said on Twitter, “Yet again, Republicans showed their only priority is to give the richest few a bigger piece of the pie. I believe the entire Republican Party, will come to rue the day they voted for the #GOPTaxScam. Today it’s clear as day: Republicans stand with the wealthiest few – not with the middle class.”
House Minority Leader Nancy Pelosi said in a statement, “The House revote is the latest evidence of just how shoddily written the GOP tax scam really is. The wealthy and well-connected will be exploiting the hidden loopholes and giveaways in the GOP tax scam for years to come. Meanwhile, middle class families pay more and our children get stuck with the bill for an exploding national debt. … the American people will once again see the contempt House Republicans have for the future of the American middle class.”