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WASHINGTON — The United States Congress has adopted a major tax bill that has sweeping implications for the American economy, politics, national debt, and its neighbour, Canada.

The bill that just passed its final vote in the House of Representatives provides the biggest U.S. tax cuts in decades and it already has policy analysts debating whether Canada should respond to retain corporate investment.

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It cuts personal taxes for most Americans for a few years, entrenches corporate tax cuts for the long term, gives President Donald Trump his first major legislative win, and it erodes a key pillar of Barack Obama’s health reform.

The bill is deeply unpopular for other reasons: It’s projected to increase the U.S. national debt by five per cent over a decade; Republicans are already hinting they might need to cut social programs to pay for it and its greatest benefits flow to the wealthy.