President Donald Trump on Friday signed into law a massive $1.5 trillion tax bill, capping off a yearlong effort by the White House and Republicans in Congress to slash tax rates for both corporations and individuals.
Trump also signed a short-term spending bill to fund the government, just hours before the midnight Friday deadline to avoid a partial government shutdown.
Speaking to reporters during an impromptu signing ceremony, Trump called the tax plan, "a bill for the middle class and a bill for jobs."
He also touted the positive reaction that the bill's corporate tax cuts have garnered from the business community. "Corp[orations are are literally going wild," he said.
The president had initially planned to sign the tax bill in early January, he said, but decided to sign it Friday morning after he listened to cable news shows discussing whether the bill would become law in time for Christmas.