President Trump signs tax bill into law before leaving for holidays

Alex Wong/Getty Images(WASHINGTON) — President Donald Trump signed the $1.5 trillion rewrite of the tax code into law at the White House on Friday capping off a victory lap before leaving to spend the holidays in Mar-a-Lago.

“Everything in here is really tremendous things for businesses, for people, for the middle class, for workers. And I consider this very much a bill for the middle class and a bill for jobs. Corporations are literally going wild over this,” Trump said.

Trump indicated that he was going to wait until after the new year to sign the bill, but when he saw reports on the news speculating about the timing he “immediately called and said let’s get it ready.”

The measure, known as the the Tax Cuts and Jobs Act, is being hailed by the GOP as the biggest legislative achievement for Trump and congressional Republicans. After the bill’s passage, Trump celebrated with Republican lawmakers at the White House’s South Lawn.

“It will be an incredible Christmas gift for hard-working Americans,” Trump said in his remarks on Wednesday.

Republican leaders House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell held an enrollment ceremony for the bill on Thursday at the U.S. Capitol.

Trump also on Friday signed a $4 billion defense spending bill and a one month-long stopgap spending bill aimed at keeping the government running until January 19. The “continuing resolution” passed both GOP-controlled chambers on Thursday and maintains current government spending levels.

This is a developing story. Please check back for details.

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