Trump Will Sign Republican Tax Overhaul Bill January 3: Report

| DEC 21, 2017 | 2:08 PM

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President Donald Trump reportedly plans to sign congressional Republicans' tax reform law after Christmas, before which the White House hoped to get Trump's signature.

A House Republican aide told Bloomberg that the president intended to sign the controversial legislation on Jan. 3 in order to avoid triggering automatic cuts to Medicare and other programs.

The House and Senate just passed a final version of tax reform on Wednesday, after both chambers offered their own versions of the bill. While it's unclear how the final version would affect spending levels, the Congressional Budget Office (CBO) estimated the House's previous version would spend enough to trigger a four percent, or $25 billion, cut to Medicare.

The White House previously said it hoped to sign a version of tax reform before Christmas, but Trump apparently wanted to avoid cuts to a controversial entitlement program by postponing his signature.