Congress votes on tax bill: What the 'Tax Cuts and Jobs Act' means for you Just recently the House of Representatives approved a new tax reform that is now being sent to the Senate for final approval. This new bill will be known as the "Tax Cuts and Jobs Act", and is expected to be signed by President Trump before Christmas. This new bill will come with many changes that could either be helpful or harmful. People will no longer be penalized for not having health care, and large corporations will get new tax cuts. This bill is likely to affect many people, businesses, and other groups, but the outcomes may not all be the same for each.
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