The US Congress has just approved the country's biggest tax code overhaul¹ in 30 years, marking the first major legislative² victory for the Trump³ administration.

 

美国国会刚刚通过了近30年内最大的税法改革，这是特朗普政府首个重大的立法胜利。

 

Officially known as the Tax Cut and Jobs Act, this 1.5 trillion dollar tax cut plan was approved in the US Senate 51-48 and in the House of Representatives 224-201. 

 

The voting proved to be a long process with the House having to vote a second time because of procedural glitches⁴ in the final version of the bill. 

 

Under the plan, American corporate⁵ income tax will be cut from 35% to 21% and the top individual tax rate will be cut from 39.6% to 37%. The tax plan also includes a repeal⁶ of the Obamacare individual mandate⁷.

 

President Donald Trump has held a celebration ceremony with Republicans in the Rose Garden of the White House. 

 

"It's been an amazing experience. It's the largest, I always say it's the most massive, but it's the largest tax cut in the history of our country. This is going to make companies come back and they are gonna stay in our country. And that means jobs and it means really the formation of new young beautiful strong companies."

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