President Trump, “Going to put phase 2 tax reform to work”
Wednesday in St. Louis, Missouri, US President Donald Trump that he is working with congressional Republicans on a “Phase 2” tax-reform plan to help middle Americans and corporations, telling Missouri business leaders that “it is going to be something that I think is very special.”
“We’re going for a Phase 2, which will help, in addition to middle class companies,” President Trump said at a roundtable at the Boeing Co.(NYSE:BA) plant in St. Louis. “It’s going to be something that I think is very special.”
“It’s going to be something that I think will really be a big incentive to do a lot of things like we’re doing right here,” Trump said. “A tremendous incentive for the workers.”
Touring the Boeing plan with Treasury Secretary Steven Mnuchin, President Trump touted his economic successes, from Wall Street gains to job increases to lower jobless claims and slammed Democrats for not supporting his tax reform bill passed in December.
“Unfortunately, on the original plan, we didn’t have one Democrat vote, which is pretty incredible,” he said. “Now, they’re regretting it.
“But we are going to do a Phase 2.”
The President also said that the White House had asked Congress to finance 24 new F-18 Super Hornet fighter jets from Boeing in its upcoming budget.
“The F-18, one of my favorite planes, to me, it’s a work of art,” President Trump said. “You look at the workers. Look at the talent that went into it.
“It’s spectacular. It’s a beautiful thing to watch.
“We are working on price,” the president added, looking at Boeing CEO Dennis Muilenburg. “Maybe we can work out a good price.”
Local leaders and Boeing workers praised how the tax plan benefitted them, with several telling of how they used their gains to help better serve their families or add to retirement.
Mr. Muilenburg, the Boeing CEO, said his company used the tax savings to announce a $300-M investment “back into our people.”
Besides increasing compensation, the effort includes upgraded plants and offices, improved training programs and “investments in our communities and veterans.”
“We’re going to continue to put tax reform to work,” Mr. Muilenburg said. “We appreciate your leadership and Congress’ leadership on getting that passed.”