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Trump Signs $1.5T Tax Cut Legislation

Law360, New York (December 22, 2017, 11:03 AM EST) -- President Donald Trump signed the massive Republican tax bill into law Friday, marking the first major overhaul of the U.S. tax code  in over 30 years.

Trump’s signature on H.R. 1, formerly known as the Tax Cuts and Jobs Act, triggers major changes to the tax laws by temporarily lowering individual tax rates, permanently slashing taxes for businesses, creating a separate rate for pass-through entities, and shifting to a territorial tax system where the U.S. no longer taxes income generated abroad. The bill has been estimated...
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