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Grover Norquist: Rest of World 'Terrified' of Trump's Tax Cuts

Image: Grover Norquist: Rest of World 'Terrified' of Trump's Tax Cuts
Grover Norquist (Win McNamee/Getty Images)

By    |   Sunday, 07 May 2017 09:07 AM

The rest of the world is "terrified" by President Donald Trump's proposal of cutting business taxes down to 15 percent, anti-tax activist Grover Norquist said Sunday.

If President Trump gets his tax-reform plan pushed through, business money will be flowing back into the U.S., which will force other countries to consider cutting their business taxes to under 20 percent, too, Norquist told "The Cats Roundtable" on 970 AM-N.Y.

"The rest of the world is a little bit terrified that we're going to do that, because it's going to force them to get serious about competing as well," Norquist, founder and president of Americans for Tax Reform, told host John Catsimatidis.

Businesses outside of the U.S. have not faced the 35-percent tax rate American businesses have faced. Congressional Republicans have wanted to get that rate down to 20 percent to spur growth, but President Trump has proposed an even deeper cut to 15 percent, according to Norquist.

Norquist pointed to the $1 trillion tax cut involved in the repeal of Obamacare's mandates and the deeper tax-cut dive of tax reform as likely to go right down partisan lines.

"There will be no Democrat votes for either Obamacare reform, repeal or the tax reduction," he told Catsimatidis. "Democrats passed these tax increases without Republican votes, Democrats passed Obamacare without Republican input – that was done on party lines – so going back the other way will also be done on party lines."

Republicans control the Senate 52-46 (with two independents) and have Vice President Mike Pence to settle any tie, so only 50 votes will be needed to move those agenda items in the Senate through budget reconciliation. In order to get to the super majority of 60, the GOP will need to pull in eight votes, but that will not happen with a resisting minority, Norquist said.

"Every once in awhile you hear Democratic senators talking about wanting to participate, wanting the Republicans to listen to them, but then when they talk, they just want higher taxes," Norquist told Catsimatidis. "They can't be part of a tax cut package, because that's not where their heads are."

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The rest of the world is "terrified" by President Donald Trump's proposal of cutting business taxes down to 15 percent, anti-tax activist Grover Norquist said Sunday.If President Trump gets his tax-reform plan pushed through, business money will be flowing back into the...
grover norquist, us, business, tax cuts, scares, competitors
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2017-07-07
Sunday, 07 May 2017 09:07 AM
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