Trump Signs Major Tax Overhaul into Law, PABs Preserved

On Dec. 22, President Trump signed the $1.5 trillion tax overhaul legislation into law. Prior to the signing, House and Senate GOP leadership filed a conference report on the Tax Cuts and Jobs Act, reconciling the differences between the House-passed and Senate-passed versions of the bill. The House and Senate both approved the conference report and the House passed the bill by a vote of 227 – 203, with 12 Republicans and all Democrats voting against it. It passed the Senate by a vote of 51 – 48 on a party-line vote.