Congressional Republicans send tax cuts to Trump's desk

The House just passed the tax bill in a final vote after a procedural hiccup relegated the bill back to the floor for a second vote. The Senate passed the bill early Wednesday morning along party lines.

What it means: The tax bill is on its way to President Trump's desk now, slating the tax overhaul package to take effect in the new year. This sets up the GOP for its first major legislative win in Trump's first year as president.