By Sandra Rose  | 

President Donald Trump

President Donald Trump says members of the House and Senate have reached a deal on the final tax reform bill. He made the statements during a White House luncheon on Wednesday. Trump said "We are close to a legislative victory, the likes of which this country has never seen."

"This is one of the biggest pieces of legislation ever signed by this country and we are very, very excited about it," Trump said during a White House luncheon for members of the House and Senate on Wednesday.

Trump said the tax cuts will benefit working families and is "vital to the American people". He said a typical family 4 earning $75,000 annually will have an extra $2,000 in their pockets.

Additionally, homeowners will be able to deduct interest on the first $750,000 of a new mortgage. The old limit was $1 million.

The final vote on the tax reform bill is next week and the changes will take affect in January 2018.

Tax reform is unpopular with the Democrats who say the tax cuts will only benefit businesses and the wealthy.

"It's a massive tax cut for the middle-class and it's about jobs," said Trump on Wednesday.

Photo by Drew Angerer/Getty Images

  • Phillybruh

    They got that done quick, watch how fast they turn on him!

  • http://ebonynsweet.com Ebony N’ Sweet

    Where I'm from... If you can afford a $750,000 mortgage, you not middle class lol...You're rich. This tax bill hurts working families making less than 15,000 a year. Just because they in the "middle" doesn't mean they are the majority. The majority of the American People are either living in poverty or just a little bit above it.

  • Breitbart_Savior

    If that's the best picture you could find to show your fondness for a "historic" tax reform announcement then godbless your sadist little heart.

  • A D N

    I really need to read some excerpts of the tax bill. Many of us really are not into this kind of thing.

  • Look@m3

    $750K really.....so I guess this really for the rich! I don't even know anyone that owns a home that cost this much. This was clearly for the benefits of a certain group of people....Ill keep dreaming to owm that $750 home I guess...but seriously...where does the average/reasonable home owner $250 to $350 stands with his bill?

    And on the 2K is that taxed too the following year????

  • my view

    Welp that's it for the real middle class and poor people

  • my view

    The fact that Ryan said they will be looking into cutting medicare and social security next year is just beyond scary

  • Look@m3

    We so doomed....smh

  • my view

    in the poor line

  • Look@m3

    This Is so scary man.....im scared to file at the beginning of the year...so does this affect us next year or the year after?

  • Look@m3

    I'm starting to feel sad...

  • MissHarlem

    Ummm where is Orange's taxes?!! In more important news I'm stocking my bar and getting the house ready for this 2018 impeachment ??

  • Karen Brady

    His picture. That's all I got.

  • Karen Brady

    And make or buy plenty of ice

  • You Could Never

    @Puppylove asked me the other day what am I wearing to the impeachment porty. I am wearing my Nike swish swish track suit and Air Max's. When the porty is over Imma be good and drunk. Do me a solid and just roll me into an open corner sis. Thanks.

  • Look@m3

    I want to come...Ill bring the dip (turkey meat only)!

  • You Could Never

    I will bring the ice!

  • Renee26

    Looks to be beneficial to the upper middle class and wealthy people.... what can those who make less than $75k expect?? I already know they took away the tax breaks for first time home owners...what have they done to remedy that?

  • Shame

    2,000 measly dollars for the family who’s basically poor and that homeowner deduction will only help the top ten percent. That’s the new middle class.

  • Look@m3

    And I'm looking for a home now......I'm trying to sift thru this to see if I'm F'd!

  • Karen Brady

    I got the bar snacks and cocktail napkins!

  • You Could Never

    15k is not working class. they are the working poor. Sad af man.

  • Karen Brady

    lol

  • A D N

    Well dang, I want to come too, since everyone else is coming lol. I'll bring something good.

  • MissHarlem

    I'm gonna need you to bring a box of dutches

  • A D N

    I just realize Trump hasn't been in office a whole year! Boy, this has been exhausting, yet entertaining. How many of us have more interest in politics?

  • MissHarlem

    I rather a fruit tray save the turkey lol

  • Look@m3

    WIll publix do....or I can do the dip with no meat...hell Ill do both for this occasion!

  • Look@m3

    I thought I would but its been too depressing and disturbing so I had to pull back!

  • MissHarlem

    I roll you into a corner after I get nice a fckd up with the blunt still lit. No worries though because I will set up a nice palette with water bottles and an empty trash can nearby ?

  • Readytochokemothernatureout

    I'se a coming lol wouldn't miss it for the world.

  • klwbaby

    Translation for this tax bill: some will get screwed over with lube and for the others, brace yourself.

  • Look@m3

    We can have trill treats deliver!! If he out on bond...

  • Look@m3

    LMAO...take my LMAO back.....because I may have to brace myself..NM

  • Readytochokemothernatureout

    Lol

  • MissHarlem

    It is a yuge celebration let's ball out. Get both

  • Readytochokemothernatureout

    Me, him winning has me awaiting impeachment day.

  • Look@m3

    That picture do look like " yeah, I did that ish! Yawl cant tell me nothing"...when this is the only thing done and its December 13th...*face palms*

  • my view

    yup..until we get dems in there to vote this kinda crap down

  • Readytochokemothernatureout

    I just want him gone. Jail, old folks home it don't matter just out of the Russian house.

  • MissHarlem

    BYOB and come on through

  • my view

    this man is not going to be impeached and if by some crazy chance he is who wants Pence in office? he's crazier then trump

  • A D N

    Sort of like a Jerry Springer success story. Can you believe that show has been on air for over 25 years? That show is nothing but drama and the same type of drama! Our culture have not changed in 25 years...some people love to watch drama. Some people love to start drama (Trump) and live in drama (Omarosa). lol.

  • Readytochokemothernatureout

    It's hopefully the thing that will get all those who voted yes to this mess out.

  • my view

    I wouldn't be surprised if Trump left the office after this tax bill is passed...but then again he has to stay until his son in law and son are arrested so he can give them a pardon

  • Look@m3

    Just like Maury...he still doing nem baby daddy test revelations? Cant believe they still have audiences...

  • Readytochokemothernatureout

    Pency ole lying self ain't innocent either. I'm hoping for a twofer and yes his arse will be impeached. Don't kill my dream or wish.

  • Look@m3

    IDK I was wondering about this because Clinton was impeached but he stayed in office......but I think everyone riding off of faith and hope...because that's all we got.

  • A D N

    He'll be impeached. It's why Obama/Clinton allowed him to take office. They didn't contest the election because they wanted him to fall harder.

  • Readytochokemothernatureout

    If he got in trubbuh for his wayward peen this crook has to go.

  • A D N

    All legislative branches had to impeach him.

  • Readytochokemothernatureout

    Yay ?

  • A D N

    Thank you! Just realized that. I've outgrown the drama of you not the father.

  • A D N

    Trump's not a quitter. He hates a quitter.

  • A D N

    Oh oh. I'm a prude. What are dutches? lol

  • A D N

    Just 2 seats from majority...just 2. What races are likely to get those seats?

  • Mr.LeBrickJames

    He wouldn't "quit" technically. I can see him claiming he's stepping down for "health reasons"... but not till he pardons Don Jr. and Jared first.

  • Mr.LeBrickJames

    http://fortune.com/2017/12/07/donald-trump-middle-class-tax/

    These people said one thing and did something completely different.
    Total bait and switch.

  • Mr.LeBrickJames

    I was just telling my wife that the day Robert Mueller releases his resprt on Trump, I'm taking the day off and watching tv news all day long. It's going to be epic.

  • MissHarlem

    I'm definitely calling out that day

  • taurus_32

    Oh no not January 2018 ?? I was hoping I could deduct last year state taxes damn!

  • Look@m3

    I missed that part! I was wondering when it went into affect but that seems so unfair....it should be 2019.

  • Scromes1212

    Trickle down economics. Guess we will have to wait and see if it works.

  • Look@m3

    Lord anyone watching the news with these familys talking about how they will benefit from this tax reform....Who is this this black pastor?

  • Mrs. S. Kidd

    So this is the real reason Omarosa been all up and down the Black news realm. They want y'all clowning her while they change these taxes right quick....chillllle....

  • Phillybruh

    Whoever didn't know they were changing taxes at this point is just dumb...lol

  • Mrs. S. Kidd

    The point of my statement was to highlight that this news is more important and that this is one of the few Black outlets covering it....I wonder why? Carry on.....

  • my view

    that's not true

  • taurus_32

    Exactly ? just last week they made handwritten changes so that it could pass the house if I’m not mistaken

  • my view

    that's why i said pence was worst

  • TMW

    Yeah, he will eventually be impeached, or he will be forced to resign (like Nixon) because of the sexual misconduct or Russia stuff. He will never go on his own though - he’s too arrogant for that.

  • TMW

    Puts the country $1.8 trillion in debt, only benefits the wealthy and business owners. Ok.

  • OP2

    Huh?? According to Forbes, "Right now, the US public debt is about $19.84 trillion and may reach $20 trillion by the end of 2017. as of Nov 8, 2017."

    That was ran up by the Bush (9/11) & Obama Administration (during the crashing of the subprime mortgages or housing & stock market and banking industry) along with fighting ongoing Middle Eastern wars.

    Then billions of $$$ more is constantly being borrowed to pay various gov't projects which financed so many projects required to help run the public via their local or state governments. -it cost trillions to run this country.

    --what's free for some is simply taxpayers debt for others.

  • OP2

    When big business can save via tax cuts, then they are able to hire more people like back in the day instead of getting fed up and moving their headquarters and jobs overseas.

    -the more people keep asking for more via unions, the more companies will go back to simply cutting jobs and outsourcing work to overseas to foreigners who can do the same type of work for much less. ijs

    Some folks in the US just price themselves right on out of a job. -a job is better than no job. lol

  • TMW

    The new tax plan will add 1.8 trillion to the national debt according to Donald Trump’s alma mater Penn Wharton

    http://www.businessinsider.com/gop-trump-tax-plan-analysis-debt-deficit-2017-11

  • http://thedevereauxshow.com/ Ms.Devereaux

    2,000 spread over 12 months ain’t shit for a family of four

  • http://thedevereauxshow.com/ Ms.Devereaux

    That’s an extra 166 a month smh

  • OP2

    It cost a trillion to run this country per year. Obama ran out debt up by at least $8 trillion. Now, Trump could have cut some serious taxes across the board as planned to make sure that it would not have been having to borrow $1.8 trillion (via tax-cuts) where taxpayers would be seeing less of their paycheck over the year and gas, food, local sales tax and all will have to increase significantly to make up the difference & prevent borrowing aka a recession. -take your pick. lol

    But, then the poor and Black folks would have been crying foul & that the rich are not doing their fair share of paying EVEN more of their earnings to cover the difference for those who rely on public assistance; subsidized housing, free lunches, homeless shelters; food pantries; medicaid and public transportation, subsidized daycare and all for struggling parents and pell grants, gov't student loans and so much more. -you also have to hire gov't employees to run all of those programs from top to bottom (at a local, state & federal level). All of that means DEBT to keep this country running on borrowed $$$ and taxpayers forking out by going to go to work and try to reduce that!

    I saw the final tax plan and compared it to the current and previous administration. -I really like this! Don't believe the lies. It looks very similar where certain public assistance and college student needs remained the same and even better in some areas.

    Cutting corporate taxes gives companies the incentive to return to the US and hire Americans as opposed to outsourcing our jobs overseas. It is a trickled-down
    effect where a more profitable company will be allowed to hire more Americans instead of giving up and moving their headquarters overseas to overcome liberal BS of overtaxing and over restricting their efforts in every category. -an easy remedy is to simply put their manufacturing and all under the laws of another country. That results in urban and rural area folks being jobless or having to make do with dead-end jobs. Um, I like his new bill which will hopefully bring jobs back and help Americans who want to work...thrive and improve their lives.

  • Alicia.Ashe

    You are a delusional clown

  • Gotitbutsmh

    Regardless, tax reform passed and the senate and congress had to work out the differences in each bill. Moot point.

  • Gotitbutsmh

    Go on your troll stroll back to Fox, TMZ and AOL. Stop talking your lies are all total BS fuctard.

  • Mrs. S. Kidd

    First, learn what "moot point" means. Second, it's not a moot point. Tax reform is *very* important because it will affect our everyday lives. Omarosa resigning means nothing to any of us....it only affects her lol She's the moot point if anything.

  • Gotitbutsmh

    Girl shut up tax reform was happening regardless. It is a moot point because one has not a damn to do with the other.

  • Mrs. S. Kidd

    You came in my section to comment, not the other way around. Don't be mad at me because you lack critical thinking skills and cannot follow my line of thinking. Now, shoo fly.

  • Gotitbutsmh

    Wow as if your jacked up thinking counts for anything. You over estimate your importance. Naw you FO as wipe.

  • Mrs. S. Kidd

    My line of thinking must be important to *you* because you're still in my section lol

  • Gotitbutsmh

    Things people say when they wish they hadn't started with you.