Grover Norquist on Tuesday lauded President-elect Donald Trump's "powerful" tax plan, comparing it to that of Ronald Reagan's.
The President of Americans for Tax Reform said on C-SPAN's "Washington Journal" that Trump's plan to lower the corporate rate to 20 percent — from 40 percent — will be a main driver of growth.
That "makes us competitive with the rest of the world in a way we weren't before," Norquist said on C-SPAN. "That will be a phenomenal help in terms of trade and job creation."
Overall, Norquist praised Trump's tax plan as "extremely powerful in terms of economic growth."
Norquist says he thinks 4 percent in growth is doable under Trump's plan, which would better than the 2 percent growth under 8 years of President Barack Obama. And growth, Norquist said, would offset the cut in the corporate rate.
"The best way to pay down the debt is to have strong economic growth and stop spending so much money," Norquist said. "On the growth part, Trump's plan is extremely helpful."
Further, Norquist said that Obama's $2 trillion in regulatory costs is in some ways more damaging than taxes, something Trump has also promised to reverse.
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