Trump signs tax cut bill into law

WASHINGTON, Dec. 22 (Xinhua) -- U.S. President Donald Trump on Friday signed a 1.5-trillion-dollar tax cut bill into law, as well as a spending bill to keep the federal government running through January 19, 2018.

The U.S. Congress this week passed the tax bill along party line, with no Democrats voting for it.

At the signing ceremony, Trump called it "a bill for the middle class and a bill for jobs," adding "corporations are literally going wild."

The tax bill, the sweeping rewrite of U.S. tax law since 1986, would cut the corporate income tax rate to 21 percent from the current 35 percent and lower individual income rates.