President Trump promises tax package 'Christmas gift'

The tax bill Trump hopes to sign this week includes a corporate tax rate cut, a lowered top tax rate and, for the middle class, it doubles the standard deduction.
1:44 | 12/18/17

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Transcript for President Trump promises tax package 'Christmas gift'
It is a busy day in Washington. President trump is set to give a major speech on national security. Congress meantime, is preparing tore that big vote on the Republican tax bill as early as tomorrow. So let's go to our senior white house correspondent Cecilia Vega for more. Good morning to you, Cecilia. Reporter: Hey, good morning. You know what, the president said he wanted it on his desk by Christmas and looks like he'll get it. Let's look at what it would do for so many deductions so many American families claim. It will reuse the amount you can claim on your mortgage by 750,000 and Republicans really can't afford to lose many votes on this one. Senator John McCain is suffering and -- suffering from that rare form of brain cancer. He is back home in Arizona in the wake of treatment so is expected to miss this vote but Republicans, two key Republican senators did end up flipping their votes froms to yes so looks like it's all but a done deal and calling it a cripple gift for middle class families but this nonpartisan congressional tax analyst that says that those who stand to benefit the most, Paula, are the rich and big corporations. Moving on, Cecilia, today in Washington the president is also going%to lay out a new U.S. National security policy. What can we expect? Reporter: We've been talking about aides. Two key headlines. He is expected to call China a strategic competitor and also going to take a break from the obama-era national security policy and president trump wants to make a big deal of it. Usually it's not a ceremonial event. This will be a big speech for him. Cecilia reporting from the white house. Than

This transcript has been automatically generated and may not be 100% accurate.

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