President Trump finally has something to tweet about. His sweeping tax reforms have passed both the Senate and the House of Representatives, leaving it up to only Trump to sign them into action. This marks Trump’s first major legislative achievement and may foreshadow an increase in activity for the majoritively Republican run House and Senate.

This tax cut is the first since 1986 and reforms both corporate and individual taxes. This tax reform will not  impact 2017, but it will change the way we file our taxes in the future. Here are five ways that the tax reform will affect you, people around LHS and America as a whole:

1. You can still deduct student loan interest.
   1. Good news for college bound students, we already have to pay enough as it is, no need for the added expense.
2. Medical expenses are also still deductible.
   1. Drove your car a little too fast? Decided to ride your longboard down Cliff? Don’t worry! The tax break has you covered (to an extent). Filers can deduct expenses that are over 7.5 percent of their gross income. This is down from 10 percent in the past.
3. Teachers can can still deduct classroom supplies.
   1. Educators can deduct $250 to make up for money spent on supplies for students.
4. The deduction for bicycle commuters goes away.
   1. Might as well drive a car now because the $20 per month tax break for riding your bike to work is gone. (Just kidding, the greater benefit is saving the environment.)
5. Businesses can no longer write off settlements related to sexual harrasment.
   1. New Jersey Senator Bob Menendez (D) amended the bill to include a requirement that companies cannot deduct any fees surrounding sexual harassment cases if they require non disclosure agreements. This amendment was spurred by the #MeToo movement and shows the increased support for victims of sexual harassment.

For more information about the tax reform: http://money.cnn.com/2017/12/20/news/economy/republican-tax-reform-everything-you-need-to-know/index.html