President Donald Trump will likely sign the $1.5 trillion tax bill into law Friday, White House officials predict, shortly before he departs Washington for his holiday vacation in West Palm Beach, Florida.
The plan, which critics say benefits the wealthy more than the middle class, lowers the corporate tax rate down from 35% to 21%, nearly doubles the standard deduction for individuals, repeals the individual mandate in the Affordable Care Act and restructures the way pass-through businesses are taxed.
The officials predicted that January will be a busy month for Republicans legislatively. Trump plans to meet with Senate Majority Leader Mitch McConnell and House Speaker Paul Ryan the first week of that month to discuss their priorities for 2018, they said.
As far as a solution for the Deferred Action for Childhood Arrivals program, these officials estimated that it will not be included in a budget deal, but “the timeline will be similar.”
