Big celebration at the White House as Republicans rejoice over passage of tax overhaul bill

WASHINGTON — President Donald Trump held a ceremony Wednesday at the White House to mark the final passage of the historic tax reform bill.

Watch in the player above and click here for more on the new legislation.

Flanked by Republican lawmakers, the president took a bow outside the White House shortly after the House finished its last-minute re-vote to pass the $1.5 trillion bill that provides generous tax cuts for corporations and the wealthiest Americans while providing smaller cuts for middle- and low-income families.

Democrats call the legislation a boon to the rich that leaves middle-class and working Americans behind.

Trump said the effort had “been an amazing experience” and claimed it resulted in “the largest tax cut in the history of our country.”

Actually, Trump’s cuts are nowhere near the largest in U.S. history

The vote was 224-201 and came hours after the Senate’s early morning passage along party-lines.

Republicans cheered when the vote tally hit the magic number for passage, and again when the final vote was announced. One Democrat yelled, “Do over!”

It is the first major overhaul of the nation’s tax laws since 1986.