Tags: Donald Trump | Trump Administration | Trump Tax Reform | missouri | speech | senate | gop

Trump Talks Tax Reform in Missouri: 'America Will Win Like Never, Ever Before'


By    |   Wednesday, 29 November 2017 04:23 PM

President Donald Trump touted the Republican Party's efforts to pass tax reform Wednesday, saying it will help the United States win again.

"If we do this, then America will win like never, ever before," Trump told a crowd in St. Charles, Missouri.

"Just three months ago, we came to this state to launch our plan to bring back Main Street by cutting taxes for American families and small businesses. Today, I've come back to this incredible state to spend an afternoon with its amazing citizens — you are amazing — to help push our plan for historic tax cuts across the finish line."

Trump's campaign-style speech drew several rounds of applause as he made the case for passing tax cuts and rattled off statistics that he said demonstrated his accomplishments.

The House recently passed tax reform legislation, while the Senate is working on a slightly different tax bill. Senate Majority Leader Mitch McConnell told his colleagues Wednesday that the chamber would vote on whether to open debate on the tax bill later in the day.

GOP leaders have expressed a desire to pass tax reform by the end of the year.

Trump said the current tax code "is a total dysfunctional mess." And, he added that the proposed tax reform won't benefit him personally.

"This will cost me a fortune. Believe me. Believe me, this is not good for me," Trump said. "I have some very wealthy friends, [they're] not so happy with me. That's OK. I keep hearing [Senate Minority Leader Chuck] Schumer, 'this is for the wealthy.' Well, if it is, my friends don't know about it."

The president noted the GOP's tax legislation would save an American family of four that makes $75,000 a year about $2,000 a year in taxes.

"You're going to take that $2,000 and maybe you'll save some and maybe you'll spend some," he said.

Trump also took a shot at Wall Street after explaining that the Senate's tax plan erases a deduction corporations can make for CEO salaries over $1 million.

"You can see what some of these people are making. A little ridiculous," Trump said. "I'm driving up their stock, they're making a fortune and go to the board and tell everybody what a great job they're doing. What am I going to do?

"Many of them, honestly, I don't like. Some of these bankers, I don't like them and they're making a fortune. It's one of those things."

The GOP's tax bill advanced out of the Senate Budget Committee Tuesday via a 12-11 vote. The legislation faces a tough test in the overall Senate body, however. Sen. Ron Johnson, R-Wis., has already announced his opposition to the bill, while a handful of others remain on the fence.

Johnson's beef with the bill stems from the fact that the original language in it did not benefit business owners who lump their business and individual taxes together. Trump said Wednesday there's a plan to change that so that all small business will enjoy a tax cut.

"It's coming out of the hopper. It's getting there," Trump said.

Critics of the bill say it will lower taxes on the wealthy and add to the federal deficit. Republicans disagree, saying it will spur economic growth by lowering rates for individuals, families, and corporations.

Trump closed his speech by explaining that Republicans' plans to overhaul the nation's tax code are "anti-offshoring and 100 percent worker, 100 percent pro-America."

He exited the stage as the Rolling Stones song "You Can't Always Get What You Want" played, likely a message to lawmakers who oppose the GOP's tax legislation.

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President Donald Trump's campaign-style speech Wednesday in Missouri drew several rounds of applause as he made the case for passing tax cuts and rattled off statistics he said demonstrated his accomplishments.
missouri, speech, senate, gop
Wednesday, 29 November 2017 04:23 PM
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