The Latest: Trump begins holiday after signing tax bill

President Donald Trump shows off the tax bill after signing it in the Oval Office of the White House, Friday, Dec. 22, 2017, in Washington. (AP Photo/Evan Vucci)

WASHINGTON — The Latest on President Donald Trump (all times local):

4:10 p.m.

President Donald Trump is in Florida celebrating the holidays and a much-needed political victory.

Before departing for his Mar-a-Lago estate, Trump signed the $1.5 trillion tax overhaul into law. He also put off a government shutdown by signing a temporary spending bill.

The tax cut is a long-held Republican goal. Starting next year, the new law will give big cuts to corporation and wealthy Americans and more modest reductions to other families.

Trump pitches the tax overhaul as a win for the middle class, insisting that even though polling indicates the tax cut is unpopular, "the numbers will speak" for themselves.

The tax law is the largest since 1986, but far from the biggest ever, as the president repeatedly claims. It's also projected to add to the nation's debt.

___

12:15 a.m.

President Donald Trump says he's learned a lot about Washington, partly by getting to know members of Congress. Asked whether he has any regrets over his first 11 months, he shook his head no.

The president spoke as he signed a $1.5 trillion tax overhaul that marks his first major legislative achievement. He said he ordered up the last-minute Oval Office event because news coverage questioned whether he would sign the bill into law by Christmas.

The legislation provides generous cuts for corporations and the wealthiest Americans, along with smaller ones for middle class and low-income families.

It also ends fines for people who don't carry health insurance. That's a major change but far from end of "Obamacare," as Trump has suggested.

The new tax law also could swell the national debt over the next decade, according to the Congressional Budget Office.

___

11 a.m.

President Donald Trump has signed into law a $1.5 trillion tax overhaul package.

Trump touted the size of the tax cut, declaring to reporters in the Oval Office before he signed it Friday that "the numbers will speak."

The president said he was going to wait to sign it until after Jan. 1 but changed his mind.

The legislation provides generous cuts for corporations and the wealthiest Americans and smaller ones for the middle class and low-income families.

It is the first major overhaul of the nation's tax laws since 1986, but far from the largest tax cuts in American history as the president claims. Politically, it marks the Republicans' first major legislative accomplishment of Trump's presidency.

___

10:30 a.m.

President Donald Trump says he's getting ready to sign into law a $1.5 trillion tax overhaul package. It provides generous cuts for corporations and the wealthiest Americans and smaller ones for the middle class and low-income families.

Trump tweeted that he'll sign the law in the Oval Office before jetting off to his Florida estate for Christmas.

It is the first major overhaul of the nation's tax laws since 1986, but far from the largest tax cuts in American history as the president claims. Politically, it marks the Republicans' first major legislative accomplishment of Trump's presidency.

Some estimates say the cuts could add to the nation's soaring deficit.

You may also interested in

Asian stocks mostly higher after Wall Street decline

Aug 17, 2016

Asian stock markets were mostly higher Wednesday after Wall Street declined

Conventional tax proposals in an unconventional US campaign

Aug 17, 2016

In this unconventional campaign season, Donald Trump and Hillary Clinton have produced two conventional tax plans that mostly track their parties' long-standing views

Fed minutes: Conditions could 'soon warrant' a rate hike

Aug 17, 2016

Fed minutes: Conditions could 'soon warrant' rate hike, as near-term risks have diminished

People also read these

Insurers continue to abandon ACA exchanges, limiting choice

Aug 16, 2016

Aetna will abandon for next year Affordable Care Act insurance exchanges in more than two-thirds of the counties where it sells coverage, making it the latest major health insurer to cuts choices in many markets

Dominican leader assumes 2nd term, pledges tech revolution

Aug 16, 2016

The president of the Dominican Republic has been sworn in for a second term as leader of the country boasting the best economic grown in Latin America and the Caribbean

Japan's trade shrinks in July, exports sink 14 percent

Aug 18, 2016

Japan reports it posted a trade surplus of 513.5 billion yen ($5.1 billion) in July, though exports sank 14 percent from a year earlier

Weather, 20 December
Houston Weather
+7

High: +11° Low: -2°

Humidity: 83%

Wind: NNE - 7 KPH

Canberra Weather
+27

High: +27° Low: +17°

Humidity: 87%

Wind: W - 20 KPH

Roissy-en-France Weather
+6

High: +6° Low: -5°

Humidity: 87%

Wind: ENE - 7 KPH

Florence Weather
+9

High: +9° Low: +6°

Humidity: 97%

Wind: ENE - 17 KPH

Parga Weather
+7

High: +16° Low: +4°

Humidity: 100%

Wind: SE - 25 KPH