President Trump has a right to be all smiles when he signs the massive tax overhaul that Congress was voting Tuesday to send to him.
The tax package is a significant milestone that will serve as the capstone to a turbulent year. As recently as last week, passage was still in doubt, despite the all-Republican control of Washington that voters installed in 2016.
But Republicans banded together Tuesday to deliver a $1.5 trillion dollar tax cut with a dramatic transformation of corporate tax rates and deductions for individual taxpayers.
Nevertheless, a look back at Trump's first tax announcement in April shows how goalposts for the bill moved as the year went on.
Trump released a one-page list of "guidelines" for tax reform in April with great fanfare.
Some of Trump's central proposals made it in the final bill, including a doubling and expansion of the child tax credit; a change in the corporate tax system to one focused on domestic income rather than worldwide operations; and a one-time low tax on assets held by U.S. corporations' foreign subsidiaries. This is intended to encourage companies to bring billions of dollars held overseas back to the U.S. for new investments.
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