Trump signs $1.5b tax bill into law in major legislative win

Donald Trump's tax package slashes corporate rate from 35 per cent to 21 per cent.
Donald Trump's tax package slashes corporate rate from 35 per cent to 21 per cent.
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Reuters, Washington :
US President Donald Trump signed Republicans’ massive $1.5 trillion tax overhaul into law on Friday, cementing the biggest legislative victory of his first year in office, and also approved a short-term spending bill that averts a possible government shutdown.
Trump said he wanted to sign the tax bill before leaving Washington on Friday for his Mar-a-Lago estate in Florida, rather than stage a more formal ceremony in January, so he could keep his promise to finish work before Christmas.
“I didn’t want you folks to say I wasn’t keeping my promise. I’m keeping my promise,” he told reporters in the White House.
The two pieces of legislation represent Trump’s most significant accomplishment with Congress since taking office in January, as well as a sign of what awaits when he returns from Florida after the Christmas holiday.
The tax package, the largest such overhaul since the 1980s, slashes the corporate rate from 35 percent to 21 percent and temporarily reduces the tax burden for most individuals as well.
Trump praised several companies that have announced employee bonuses in the wake of the bill’s passage, naming AT&T, Boeing, Wells Fargo, Comcast and Sinclair Broadcast Group.
“Corporations are literally going wild over this,” he said.
Democrats had opposed the bill as a giveaway to the wealthy that would add $1.5 trillion to the $20 trillion national debt during the next decade.
The spending bill extends federal funding through Jan. 19, largely at current levels. It does nothing to resolve broader disputes over immigration, healthcare and military spending.
Republicans also are divided over whether to follow up their sweeping overhaul of the U.S. tax code with a dramatic restructuring of federal benefit programs.
House Speaker Paul Ryan has said he would like to revamp welfare and health programs but Senate Republican Leader Mitch McConnell told National Public Radio on Monday that he was not interested in cutting those programs without Democratic support.

US agrees to provide lethal weapons to Ukraine
AFP, Washington
The US announced Friday it would provide Ukraine with “enhanced defensive capabilities,” a move that could escalate a conflict between government forces and pro-Russian separatists that has claimed more than 10,000 lives since 2014.
It also threatens to undermine President Donald Trump’s calls for improved relations with Moscow.
“The United States has decided to provide Ukraine enhanced defensive capabilities as part of our effort to help Ukraine build its long-term defense capacity, to defend its sovereignty and territorial integrity, and to deter further aggression,” a State Department statement said.
It added: “US assistance is entirely defensive in nature, and as we have always said, Ukraine is a sovereign country and has a right to defend itself. The United States remains committed to the Minsk agreements as the way forward in eastern Ukraine.”
An ABC news report before the announcement said the US planned to supply Ukraine with anti-tank missiles, including possibly the advanced Javelin system, quoting four State Department officials.
“The total defense package of $47 million includes the sale of 210 anti-tank missiles and 35 launchers. Additional supplies will need to be purchased,” the report added.
The announcement came a day after EU leaders agreed to extend tough economic sanctions against Moscow over its meddling in Ukraine for six months, and a week after Ottawa authorized the export of automatic weapons to the country.
Earlier this month, US Secretary of State Rex Tillerson warned Russia that the stand-off over Ukraine was the single most important obstacle to warmer ties between the two countries.

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