Federal Tax Reform a “Great Big Christmas Present for Americans”
President Donald Trump says he plans to be in the middle of tax reform negotiations if the House and Senate are able to meld their differing legislation’s to lower the nation’s taxes in the coming weeks.
And the Commander-in-Chief said he hopes to sign a “huge tax cut” into law as a “big, beautiful” Christmas gift to Americans.
“I want to congratulate the House of Representatives for passing a vital and historic tax cut last week, and I’m very hopeful the Senate will do the same very soon,” President Trump said in an address in the Cabinet Room of the White House Monday.
President Trump asked Congress to put a tax reform bill on his desk by Christmas, said Democrats have been no help.
“With the Democrats giving us no votes for tax cuts, for purely political reasons — obstructionists — it will be up to the Republicans to come through for America. I think they will. I hope they will,” President Trump said.
“It’s up to the Senate. And if they approve it, the House and the Senate will get together — I’ll be there right in the middle of it — and we will come up with a bill that will be spectacular for growth and spectacular for the people of this country.
Our tax plan will be bring urgent relief to hardworking families. We’ll reduce rates, increase the amount of income taxed at a rate of zero, expand the Child Tax Credit — very important, and simplify taxes as most family will be able to file on a single sheet of paper.”
In addition, the President said, “We’ll restore America’s competitive edge so we can bring back our jobs. We want to bring our jobs back to our country. We were decimated over the last 40 years. We want to bring our jobs back to the United States.
“We’ll go from being one of the highest-taxed nations in the world to one of the lowest-taxed nations in the world. Corporate rate will be reduced from 35% all the way down to 20%, which will make us competitive again, and companies won’t be leaving our country.”
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