United States President Donald Trump has scored his first major legislative win after the House of Representatives approved on Wednesday the biggest overhaul of the US tax code in 30 years.

Businesses yesterday cheered the passage of the US$1.5 trillion (S$2 trillion) tax Bill which will slash corporate taxes and likely spur a quick growth dividend. While the move is a boost for Mr Trump and his Republican party, Democrats have called it a giveaway to the rich that will widen the income gap and add to the national debt of US$20 trillion.

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