President Donald Trump is in high spirits after Congress passed tax legislation Wednesday.
“I promised the American people a big, beautiful tax cut for Christmas. With final passage of this legislation, that is exactly what they are getting,” Trump said in a statement. “I would like to thank the members of Congress who supported this historic bill, which represents an extraordinary victory for American families, workers, and businesses.”
The passing of the bill marks the first major legislative victory in the Trump era. The tax reform is estimated to give 80 percent of taxpayers a tax cut in 2018.
“By cutting taxes and reforming the broken system, we are now pouring rocket fuel into the engine of our economy. America is back to winning again, and we’re growing like never before. There is a great spirit of optimism sweeping across our land,” Trump continued in his statement. “Americans can once again rest assured that our brightest days are still to come.”
The tax legislation, supported by Republican leadership, also removes the Obamacare mandate to buy health insurance.
“We have essentially repealed Obamacare, and we’ll come up with something that will be much better,” Trump said at a cabinet meeting Wednesday.