
President Donald Trump hailed his tax cut victory as the start of 'a very special period of time' in America on Wednesday as he promised the reforms would lead to 'jobs, jobs, jobs, jobs.'

'We are making America great again!' Trump said at an outdoor ceremony on the South Lawn of the White House with Republican lawmakers.

Vice President Mike Pence, who was up late last night presiding over the final vote in the Senate, declared the bill's passage a 'middle class miracle' and shouted, 'Merry Christmas America!'

Trump was handed an immediate Christmas bonus of his own as AT&T announced it would give its more than 200,000 workers a $1,000 bonus once the tax cut is signed into law, and Wells Fargo, Boeing and Comcast, which owns NBC Universal, quickly followed suit with boosts for their workforces.

GOP leaders congratulated Trump on the legislative achievement - the first major one of his presidency - one-by-one in remarks that praised him as the greatest executive officeholder in decades.

'Something this big, something this generational, something this profound could not have been done without exquisite presidential leadership. Mr. President, thank you for getting us over the finish line,' said House Speaker Paul Ryan.

Senate Majority Leader Mitch McConnell likewise said, 'America is going to start growing again. Thank you Mr. President for all you're doing.'

'But for your leadership, we would not be here today,' House Ways and Means Chairman Kevin Brady piled on.

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President Donald Trump proclaimed the GOP tax cut plan a 'historic victory' on Wednesday as the House headed to the floor for final passage

GOP leaders congratulated Trump on the legislative achievement - the first major one of his presidency - one by one in remarks that praised him as the greatest executive officeholder in generations

'Something this big, something this generational, something this profound could not have been done without exquisite presidential leadership. Mr. President thank you for getting us over the finish line,' said House Speaker Paul Ryan

President Trump laughs as Sen. Tim Scott jokes that he said he had 45 minutes to speak to lawmakers - who'd been standing for some time at that point in the cold

MAN OF THE HOUR: Republican lawmakers proudly applaud their party leader during the outdoor ceremony at the White House

U.S. Rep. John Culberson of Texas gives a thumbs up to U.S. President Donald Trump (bottom) as he stands with fellow Republican members of Congress before the president's remarks on tax reform's passage

Ivanka Trump, the president's daughter and a senior White House adviser who played a big role in tax reform, is pictured today at her father's event on the South Lawn

Senior Advisor Jared Kushner talks to US Secretary of the Treasury Steven Mnuchin after President Trump's speech

Rep. Kevin McCarthy, the House majority leader, at his turn said, 'This is a big day for America. This is America's comeback.

'Come February check your check, because that will be the pay raise of the vote for Donald Trump,' McCarthy stated.

Senator Orrin Hatch, the Senate Finance Chairman, effusively said that Trump was 'one heck of a leader' and the bill 'could not have passed without you.'

'We're making headway. This is just the beginning,' the Utah senator who has not declared his intent to run for re-election next year said. 'I just hope that we call get behind him every way we can and we'll get this country turned around in ways that will benefit the whole world.'

Hatch said, 'We're gonna make this the greatest presidency that we've seen not only in generations but maybe ever. God bless all of you.'

The president told lawmakers in his remarks that the negotiation process has 'been an amazing experience,' and Republicans have now 'broke every record' with the size of tax slash.

'It was a lot of fun. It's always fun when you work hard and win,' Trump assessed. 'If you work hard and lose, that's not acceptable.'

President Trump posted two pictures to his Instagram Wednesday evening. With the photo left, he wrote the caption: MAKING AMERICA GREAT AGAIN! #TeamTrumpBTS. He is seen right being presented with a Louisville Slugger baseball bat with the Presidential Seal by U.S. Senator Majority Leader Mitch McConnell

Trump walked out to the event with House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell

Roughly 100 GOP lawmakers came out to celebrate Wednesday with the president. Members of the president's cabinet and White House staff were also there

'We are making America great again!' Trump said at an outdoor ceremony on the South Lawn of the White House with Republican lawmakers

YOU'RE WELCOME AMERICA: President Trump walks onto the South Lawn for his tax cut rally on Wednesday afternoon

'It was a lot of fun. It's always fun when you work hard and win,' Trump assessed. 'If you work hard and lose, that's not acceptable'

Vice President Mike Pence, who was up late last night presiding over the final vote in the Senate, declared the bill's passage a 'middle class miracle' and shouted, 'Merry Christmas America!'

U.S. Treasury Secretary Steven Mnuchin celebrates with Chairman on the National Economic Advisory Gary Cohn on the South Lawn of the White House. The Trump aides were instrumental in getting the legislation passed

HAPPY TAXMAS: That was the White House's message as it closed out the Wednesday workday after tax legislation passed

In a letter to employees, AT&T CEO Randall Stephenson said the bonuses would be paid to all 'union-represented, non-management, and 1st and 2nd line managers'

Big busness follows: Comcast, which also owns NBC Universal, announced $1,000 each for more than 100,000 staff, Boeing said it would put $300 million into workforce development and Wells Fargo hiked its minimum wage to $15 an hour

The biggest publicity coup for Trump may well be the immediate move by corporate giants to pass some of their winnings to workers.

AT&T said that it will pay $1,000 bonuses to more than 200,000 employees - and promised to make $1 billion in new investments in the United States next year - once the tax reform bill is signed into law.

As part of that bill, the tax rate on corporations will drop from 35 per cent to 21 per cent. Trump previously called the measure 'rocket fuel' for the economy.

After AT&T's announcement, other companies followed suit.

Comcast NBCUniversal said it would award $1,000 bonuses to more than 100,000 workers, 'based on the passage of tax reform' and a recent FCC decision to repeal 'net neutrality' rules.

The cable and Internet giant also boasted that it 'expects to spend well in excess of $50 billion over the next five years investing in infrastructure.'

Boeing said it would make a '$300 million employee-related and charitable investment as a result of #TaxReform legislation.'

And Fifth Third Bancorp in Cincinnati, Ohio said it will pay $1,000 bonuses to more than 13,500 employees and raise the minimum wage for its workforce to $15 per hour because its tax rate is about to plummet.

Wells Fargo matched that $15 per hour minimum wage hike and said it was prompted by the tax plan. The San Francisco-based bank also said it would make $400 million in donations to nonprofit charities and other community organizations in 2018.

FedEx also showed optimism, with its CFO saying during an earnings call that the package shipping giant will likely expand if the tax cuts lead to larger national economic growth.

'GDP could increase materially next year as a result of U.S. tax reform. If this occurs, we would likely increase capital expenditures and hiring,' Alan Graf told investors.

Trump had proclaimed the GOP tax cut plan a 'historic victory' earlier on Wednesday as the House headed to the floor for final passage.

'It will be an incredible Christmas gift for hard-working Americans. I said I wanted to have it done before Christmas. We got it done,' he said.

Trump harrumphed to his cabinet that Democrats, who did not give the bill a single vote in either chamber, 'don't like to see tax-cutting' and 'they like to complain.'

Minutes later, the House voted to approve the legislation for a second time without their help, having had to take up an amended version after a hiccup in the Senate invalidated the bill the lower chamber passed yesterday.

The legislation sailed through by a 224-201 margin with 12 Republicans crossing party lines to side against it.

'Now this historic legislation will be sent to the president's desk so we can start 2018 with a new tax code,' Ryan said in a statement once voting had finished.

Ivanka Trump greets guests during the event to celebrate Congress passing the Tax Cuts and Jobs Act on the South Lawn

SAY CHEESE: Sen. Deb Fischer (R-NE), Sen. Luther Strange (R-AL), Sen. Shelley Moore Capito (R-WV), and Sen. David Perdue (R-GA) take a selfie during the president's event on the South Lawn

GOP lawmakers applaud the president and take pictures at the tax bill event on Wednesday afternoon

The legislation sailed through by a 224-201 margin with 12 Republicans crossing party lines to side against it

FIRED UP, READY TO GO: House Speaker Paul Ryan is seen walking through the Capitol before the vote carrying a thermal coffee cup

The Senate passed the GOP's $1.5 trillion tax cut early Wednesday morning, leaving just one technical hurdle and Trump's signature as the final steps before the Republican president's top legislative priority became a reality.

Trump will not be able to sign the bill on Wednesday but delivered afternoon remarks at the White House anyway, where he was flanked 100 or so Republican lawmakers.

He took an early victory lap in his cabinet meeting and in a statement released by the White House just after the final congressional vote.

'I promised the American people a big, beautiful tax cut for Christmas. With final passage of this legislation, that is exactly what they are getting,' he said. 'I would like to thank the members of Congress who supported this historic bill, which represents an extraordinary victory for American families, workers, and businesses.'

Trump predicted that tax reform would lead to an even greater reduction in unemployment, new highs for the stock market and an increase in wages.

'By cutting taxes and reforming the broken system, we are now pouring rocket fuel into the engine of our economy,' he said. 'America is back to winning again, and we’re growing like never before. There is a great spirit of optimism sweeping across our land. Americans can once again rest assured that our brightest days are still to come.'

At his cabinet meeting, Trump said said the gathering was 'one of celebration' as he reveled in his administration's first major legislative achievement.

'You know, for 34 years, they've been trying to do this, and they haven't,' Trump said.

Now comes the difficult work of selling the bill. A poll released Wednesday by NBC found that a mere 24 percent of voters had a favorable opinion of the plan.

A senior official said Wednesday that government representatives would continue to hold events across the country but it is the administration's position that 'the results will speak for themselves.'

Cuts are expected to kick in next year in February - roughly eight months before the next wave of federal elections.

'We know that we are going to be able to have the truth set us free when it comes to that specific issue,' the official said.

After weeks of negotiating, there was little last-minute drama on Wednesday, following some confusion on Tuesday over the House-passed bill.

An official said Pence called the president from his ceremonial office at the U.S. Capitol just before 1 am to tell him, ' "We definitely have the votes and we're moving forward." '

The final tally was 51-48 – hardly different from a version that cleared the Senate earlier this month.

Not a single Democrat voted for it, just as none in the House voted for a similar bill on Tuesday and the end legislation on Wednesday.

Moments after the measure passed, Trump was quick to voice his approval. He said if the House succeeded in a final re-vote Wednesday morning, there would be a White House news conference at 1:00 p.m.

'The United States Senate just passed the biggest in history Tax Cut and Reform Bill,' he tweeted just after 1:00 in the morning. 'Terrible Individual Mandate (ObamaCare)Repealed. Goes to the House tomorrow morning for final vote.'

Trump did not have a news conference on Wednesday. Instead, he delivered remarks from the South Lawn and took no questions.

During an afternoon cabinet meeting, Trump said that the bill will provide 'a tremendous amount of relief for the middle class, including a doubling of the child tax credit and a nearly doubling of the standard deduction.'

'That's going to be tremendous for people. They're going to start seeing the results in February. This bill means more take home pay,' he said.

The final vote was 51 to 48, with all Democrats opposed and Arizona GOP Sen. John McCain absent while recovering from cancer treatment in his home state

Vice President Mike Pence presided over the historic vote. He later described it as a 'historic win for the American people'

The outcome of the vote was known in advance after wavering senators made their views known

Trump also blasted Democratic lawmakers for voting in lockstep against the measure in both houses of Congress.

'Democrats don't like to see tax cutting. They like to see tax increases and they like to complain. But they don't get it done,' he fumed.

In the Senate, proceedings ran smoothly on the floor. It was a wave of protesters that provided one of the biggest bursts of emotion. One small group yelled out 'Kill the bill, don't kill us!' as the final vote was being taken.

'The Sergeant at Arms will restore order in the gallery,' said Pence, who was presiding over the chamber.

Pence's appearance was a flourish that put him in the spotlight – though party leaders knew in advance his potential tie-breaking vote was not needed.

One protester yelled at GOP Sen. Jeff Flake of Arizona, 'Have you no shame?'

Flake voted for the bill, weeks after warning colleagues against complicity with Trump.

If we can't sell this to the American people I think we ought to go into another line of work Senate Majority Leader Mitch McConnell

Moments after the decision, far-left Independent Sen. Bernie Sanders tweeted: 'Senate Republicans just passed their tax reform bill. What an utter disgrace.'

Before the vote, as the debate stretched toward midnight, Pence tweeted out a photo of himself huddling with Treasury Secretary Steve Mnuchin and Trump economic advisor Gary Cohn. The Trump aides were crucial to bringing the bill to a vote.

The House still had to sort through one legislative hiccup – after Democrats raised a procedural objection to minor provisions in the bill that the Senate parliamentarian ruled were not allowable.

The parliamentary ruling, which was sustained after Republicans failed to strike it down, required the House to re-vote Wednesday morning so that the House and Senate versions were identical.

'After eight straight years of slow growth and under-performance, America is ready to take off,' said Senate Majority Leader Mitch McConnell of Kentucky at a press conference after passage.

Asked about a need to 'sell' the bill, McConnell said: 'If we can't sell this to the American people I think we ought to go into another line of work.'

House Speaker Paul Ryan backed the tax plan Wednesday morning, telling a CBS audience that Americans will 'see their paychecks getting bigger in February'

Ryan made the rounds on Wednesday morning's TV shows, saying on CBS that Democratic detractors predicting tax increases for the middle class are dead wrong.

'When people see their paychecks getting bigger in February because withholding tables have adjusted to reflect their tax cuts, when businesses are keeping more of what they earn, when they can write off their expensing and investment in their businesses, and hire more people, that's going to change its popularity. I am convinced,' he said.

'So I think there's just tons of confusion out there as to what this does or doesn't do. A lot of people think it's going to raise their taxes, when every income tax group on average gets a tax cut. So the proof is in the pudding, and I think the results will speak for themselves.'

Senate Minority Leader Charles Schumer, the top Democrat in the upper chamber of Congress, ripped the measure as as 'sloppy' and 'as partisan as the process used to draft it.'

He warned his colleagues: 'Vote no. Otherwise, I believe the entire Republican Party, and each of you, will come to rue this day.'

Schumer called for order during his floor speech and barked at colleagues who were talking rather than listening.

'This is serious stuff. We believe you're messing up America. You could pay attention for a couple of minutes,' the New York Democrat grumbled.

Another Democrat, Rep. Tim Ryan of Ohio, said Wednesday morning on CNN that while 'a few people are going to get some crumbs' in the form of tax relief, 'the wealthiest people in the country are going to get all of the benefits here.'

'It is going to be a great Christmas for the big corporations who are sitting on more cash than they've ever had in their lives,' he groused.

Wavering senators removed most of the speculation Tuesday night by announcing their support in advance. Tennessee Sen. Bob Corker, who Trump mocked as 'little Bob' during an earlier feud, flipped from opposing the earlier version to supporting the final conference report that cleared the Senate Tuesday night.

Sen. Susan Collins of Maine also tipped her hand hours before the vote, saying she would back the bill.

Sen. John McCain, who provided a dramatic thumbs-down to the GOP's Obamacare repeal bill months ago, is recovering at home in Arizona from his treatment for brain cancer and didn't vote Tuesday night.

He had announced his backing for an earlier version of the tax cut.

The hours-long debate Tuesday was mostly kabuki theater.

Senate Finance Committee Chairman Orrin Hatch bemoaned the lack of Democratic support – although leaders decided to move the bill through procedures that allowed them to circumvent Democrats and pass it by a simple majority vote.

'Where is this bipartisanship that this country desperately needs?' asked Hatch. 'Our tax policy is for the birds,' he added.

Sen. Jeff Merkley of Oregon called the final bill an 'abomination' as well as 'the biggest bank heist – not just in American history but in the history of the world.'

As the hours drew on, senators continued to inveigh one way or the other to a mostly empty chamber but with an eye toward C-Span and cable audiences.

'Not a single Democrat would break from party discipline,' complained Texas Republican Sen. Ted Cruz. 'Why? Because they are so united in their rage at President Trump,' the president's former primary rival said.

He said families would see benefits in their pay stubs within weeks.

Democrats saw their hopes dashed of scoring another dramatic defeat of a GOP initiative, after seeing the Obamacare repeal tank earlier this year.

With passage all but assured, Sen. Ron Wyden of Oregon, the leading Democrat on the Finance Committee, turned his focus to future battles, warning Americans that Republicans would be 'coming for your Social Security and Medicare before you take you Christmas tree down.'

Now, all that is left for the House to do is vote again following an earlier technical parliamentary error.

Protesters are taken into custody as the Senate votes on tax reform legislation on Capitol Hill

Protesters who yelled 'Kill the Bill' are removed by Capital Police during the senate vote

Ryan, who earlier said 'this is a day I've been looking forward to for a long time,' got to relive his dream Wednesday, because a few minor provisions in the House bill were out of order.

A rule that prevents certain types of legislating in what is nominally a revenue bill forced changes to the legislation that was crammed into a special procedure that only requires a simple majority to pass to avoid having to negotiate with Democrats.

There are a 'couple little glitches,' Senate Majority Leader Mitch McConnell told Fox News Tuesday night, but they are only 'minor adjustments.'

One of the out-of-order provisions let people save in tax-deferred 529 plans to home school their kids, Politico reported. Another dealt with a college's exemption from an endowment tax.

'No one's fault. They're tiny provisions that don't affect the overall bill. These small provisions were all that Dems could find. The House will pass again,' an aide said.

Not a single Democrat voted for the GOP-crafted conference report, and in the end Republicans lost only 12 of their own members

LETS DO THIS (AGAIN)! House GOP leaders hailed the bill minutes after the House passed it. Speaker Ryan hailed it as 'profound change.' Now the House may have to do a re-vote on a slightly-modified bill

President Trump tweeted congratulations for those 'who voted in favor of cutting your taxes!'

WHAT'S IN THE FINAL TAX BILL? Top income tax bracket has dropped to 37 per cent from 39.6 per cent

Other brackets are zero, 12, 22, 24, 32 and 35 per cent

'Standard' deduction for non-itemizers nearly doubles

Interest is deductible only on the first $750,000 of new home mortgages

Only individuals making more than $500,000 and couples earning $600,000 are in the top bracket

Corporate tax rates drop from 35 per cent to 21 per cent

Deduction for medical expenses and student loan interest and an exemption for graduate school tuition waivers

Ends Obamacare tax penalty for failing to buy health insurance

Doubles child tax credit to $2,000 for families earning up to $400,000

$1,400 of child credit is refundable even for families that don't pay any income tax

Doubles estate tax exemption to the first $11.2 million of inheritances

Opens a portion of the Arctic National Wildlife Refuge to oil and gas drilling

'Pass-through' corporations can deduct 20 per cent of income

Elimination of corporate Alternative Minimum Tax

No repeal of Johnson Amendment barring churches and religious organizations from election activity Advertisement

Just 12 Republicans voted against the final conference report in the House. Among them were Reps. Rodney Frelinghuysen of New Jersey, the House Appropriations Committee chairman, Rep. Darrel Issa of California, and Rep. Dana Rohrabacher of California.

All three of them represent high-tax states where some constituents could get slammed by a provision that caps the deduction for state and local taxes.

There was just one GOP opponent outside of the Democratic-leaning states of New Jersey, New York, and California – Rep. Walter Jones of North Carolina.

President Trump lauded House Republican supporters on Twitter. 'Congratulations to Paul Ryan, Kevin McCarthy, Kevin Brady, Steve Scalise, Cathy McMorris Rodgers and all great House Republicans who voted in favor of cutting your taxes!' he wrote.

THE TRUMP TAX BRACKETS Single filers $0 to $9,525 – 10% $9,525 to $38,700 – 12% $38,700 to $82,500 – 22% $82,500 to $157,500 – 24% $157,500 to $200,000 – 32% $200,000 to $500,000 – 35% $500,000 and up – 37% Married couples who file jointly $0 to $19,050 – 10% $19,050 to $77,400 – 12% $77,400 to $165,000 – 22% $165,000 to $315,000 – 24% $315,000 to $400,000 – 32% $400,000 to $600,000 – 35% $600,000 and up – 37% Advertisement

Questions arose this week as to whether the president would be gaining under the final bill as a wealthy American whose tax rate would be cut. However, the White House maintained that he could be facing a tax increase, even if his business fared well.

'We expect that it likely will, certainly on the personal side, could cost the president a lot of money. Again, the president's focus hasn't necessarily been at all on himself,' said White House press secretary Sarah Huckabee Sanders.

Pressed on whether the billionaire president would have to pay more, despite the doubling of the estate tax exemption, changes for 'pass through' corporations, and the top rate reduction, Sanders responded: 'I said that in some ways, particularly on the personal side, the president will likely take a big hit, but on the business side he could benefit. But the biggest focus for this White House has been to make sure all Americans are better off today, after this tax package passes, then they were beforehand.'

The initial tax legislation was introduced barely six weeks ago on November 2, and the final House-Senate compromise text wasn't released until Friday evening.

The race for immediate passage was driven by several factors.

First, was the president's numerous promises that the bill would become law before Christmas.

Republican leaders were also determined not to let the 1,100 page bill linger so it might get picked apart by critics.

On Saturday, just in the initial hours after it was announced, it was revealed that a change to the language for 'pass-through' corporations would benefit income-earning real estate holders like Trump and opponent-turned-supporter Sen. Bob Corker of Tennessee.

Ryan cast the bill in kitchen table terms, saying it would benefit families 'living paycheck to paycheck' – even as Democrats pointed out the bill crafted by Republican negotiators slashed the top income tax rate, lowered corporate taxes, and doubled the size of the exemption for estates that come under the federal estate tax.

Under the bill, estates worth $11.2 million would be subject to the estate tax, up from $5.6 million.

The bill slashes income tax rates, including lowering the top bracket of 39.6 per cent down to 37 per cent.

Corporate tax rates would plummet from 35 per cent to a new 21 per cent bracket.

The outcome of the House vote wasn't in doubt Tuesday, as Democrats took their last opportunity to bash the proposal as it moved forward.

'Today we choose what kind of country America will be: one that champions the ladders of opportunity for all, or one that reinforces the power of the wealthiest and well-connected,' said House minority leader Nancy Pelosi of California.

'Why aren't they joining us on insisting for a better deal for American families?' she said of Republicans. 'Why aren't they joining us in demanding that we write real bipartisan tax reform that puts the middle class first? Because helping the middle class has never been their goal,' she said.

'Republicans will vote to catastrophically explode our national debt ... where are the vaunted Republican deficit hawks? Are they endangered? Are they extinct?' she said.

Republicans pushed back against Democratic claims that the bill was structured to reward the donor class.

'Opponents to this tax bill, they don't really worry about tax cuts for the rich. They worry about tax cuts for you,' said Ways and Means Chairman Rep. Kevin Brady.

'Given the choice between the federal government and you, we choose you, hard-working American taxpayers. We choose you, the only special interest that truly matters,' he said.

Republicans will vote to catastrophically explode our national debt ... where are the vaunted Republican deficit hawks? Are they endangered? Are they extinct? Nancy Pelosi, House minority leader

Republicans insist that the sweeping package of tax cuts for corporations, small businesses and individuals will boost economic and job growth. They also see the measure as key to having any hope of retaining their majorities in the House and Senate when voters go to the polls next November.

Protesters in the House visitors' gallery shouted 'Shame! Shame!' as the final tally was taken.

The end-of-year sprint toward passage represents a remarkable recovery of Republican fortunes since the middle of this year, when the party's drive to dismantle former Democratic President Barack Obama's Obamacare healthcare law crumbled in the Senate and prospects for a tax overhaul seemed doomed by party infighting.

Now they must stick together one more time to prevent a government shutdown on Friday, an incident that would sully their tax cut rally.