Donald Trump signed a sweeping tax overhaul bill that would boost the economy, reduce the deficit and reduce taxes on the rich, while providing the biggest tax cut to corporations since the Reagan era, President Donald Trump announced Friday.
Trump signed the tax bill into law Friday morning at the White House, after the Senate passed the bill last week.
The tax cut would generate $1 trillion in additional economic growth, according to the Joint Committee on Taxation.
Trump said the tax cuts would pay for themselves, but Democrats and some economists have said that would be harder to achieve.
The president touted the bill’s economic impact.
The bill will spur job creation and boost wages by $4.5 trillion, he said.
It will help make America great again.
Trump and House Speaker Paul Ryan touted the tax changes at a White House ceremony in early December.
Trump was one of several GOP lawmakers who criticized the Republican leadership for not passing a tax overhaul that could have provided more revenue to help pay for the tax relief.
Trump has repeatedly said he would not support a tax bill that included a repeal of the estate tax.