Tags: gingrich | tax plan | economic boom | GOP

Newt Gingrich: Tax Plan Cuts Will Lead to 'Economic Boom'

Image: Newt Gingrich: Tax Plan Cuts Will Lead to 'Economic Boom'
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By    |   Thursday, 02 November 2017 01:16 PM

Comprehensive tax reform legislation, unveiled officially on Thursday, could lead to massive economic achievements in the United States, former House Speaker Newt Gingrich said before the announcement.

"I think they're on the edge of a truly great achievement that will lead to an economic boom of enormous proportion," Gingrich told Fox News' "Fox & Friends" program, explaining that he was not bothered that the plan does not lower the top tax rate.

"I am for the largest possible tax cut that they can pass," Gingrich told the program. "One of the lessons I hope they've learned from the Obamacare experience is you have to have 218 in the house, 50 senators, the vice president, and the signatures of the president."

If there is a tax cut that leads to those votes, he added, "I would like it to pass."

"I would like it to have as much reform as possible, but I want it to pass," the former speaker said. "They can get to a 20 percent corporate rate, they can dramatically reduce small business taxes down to 25 percent, which is a huge cut from where it is right now, and I am for it. They can double the middle class deduction, I'm for it. And now they're going to have to maneuver some. That's the legislative process."

On balance, though, Gingrich said he believes House Republicans have done "a tremendous job" in bringing the legislation, and he gave both House Speaker Paul Ryan and Ways and Means Committee Chairman Kevin Brady "a lot of credit."

"They've been flexible and given up things that they would love to have and know they can't get them," said Gingrich.

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Comprehensive tax reform legislation, unveiled officially on Thursday, could lead to massive economic achievements in the United States, former House Speaker Newt Gingrich said before the announcement.
gingrich, tax plan, economic boom, GOP
278
2017-16-02
Thursday, 02 November 2017 01:16 PM
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