Tax reform bill headed to White House

By |  December 20, 2017

Photo: iStock.com/lvsigns

Congress passed the Tax Cuts and Jobs Act early Wednesday morning, overhauling the U.S. tax code for the first time in more than three decades.

The Senate passed the bill, 51-48. The House passed the bill on Tuesday but is expected to revote on it Wednesday after the Senate made several technical changes. The House is once again expected to pass the bill, according to multiple reports.

President Trump is expected to sign the bill before Christmas.

Along industry lines, the Association of Equipment Manufacturers (AEM) commended the Senate for passing “historic tax reform.”

“The passage of the Tax Cuts and Jobs Act will make equipment manufacturers more competitive while creating more opportunity for millions of Americans,” says Dennis Slater, AEM president. “Equipment manufacturers are heartened that this legislation now heads to the White House for President Trump’s signature.

“The bill passed today will encourage equipment manufacturers large and small to hire new workers, expand facilities and purchase new equipment,” Slater adds. “The legislation will also put U.S. equipment manufacturers on a level playing field with the rest of the world.”

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