Republicans celebrate tax reform

WASHINGTON—Hours after passing a $1.5 trillion tax cut package, Republicans celebrated at the White House on Wednesday. “It’s always a lot of fun when you win,” President Donald Trump said, flanked by the Republican congressional caucus. Wednesday marked the first major legislative victory of the year and what Trump called “the largest tax cut in the history of our country.” House Republicans voted on final passage of the tax reform package early Wednesday afternoon after the Senate passed the bill along party lines earlier that morning. The president still needs to sign it into law. The bill permanently cuts the corporate tax rate from 35 to 21 percent and cuts most individual rates through 2025. The tax cuts lower government revenues by $1.5 trillion over the next decade but without spending offsets. Republicans claim the bill will pay for itself through economic growth. The massive rewrite of the U.S. tax code passed both chambers of Congress without a single Democratic vote, with Republicans rushing to approve the legislation after failing to repeal and replace Obamacare earlier this year. “Merry Christmas, America,” proclaimed Vice President Mike Pence.