Last night, President Trump spoke to crowds in Springfield, Missouri about the importance of tax reform. President trump is looking to build on his economic wins by getting Congress to pass comprehensive tax reform. After telling Republicans that he expects them to work quickly on this, he dialed up the pressure on key democrats. In 2018 there are many Senate Democrats running for reelection in states that the President carried. He called out Claire McCaskill in her home state, and urged them to act in the best interest of their constituents, rather than simply “resisting.” Below are some of the key points from President Trump’s speech, but click here to read the entire transcript.
- “We’re here today to launch our plans to bring back Main Street by reducing the crushing tax burden on our companies and on our workers.”
- “…The foundation of our job creation agenda is to fundamentally reform our tax code for the first time in more than 30 years. I want to work with Congress, Republicans and Democrats alike, on a plan that is pro-growth, pro-jobs, pro-worker — and pro-American.”
- “If we want to renew our prosperity, and to restore opportunity, then we must reduce the tax burden on our companies and on our workers.”
- “If we achieve sustained three percent growth, that means 12 million new jobs and $10 trillion dollars of new economic activity over the next decade.”
- “My administration is embracing a new economic model. It’s called very simply: The American Model. Under this system, we will encourage companies to hire and grow in America, to raise wages for American workers, and to help rebuild our American cities and communities. That is how we will all succeed and grow together, as one team, with one shared sense of purpose, and one glorious American destiny.”
Four Principles of Tax Reform
- We need a tax code that is simple, fair, and easy to understand. This means getting rid of the loopholes and complexity that primarily benefit the wealthiest Americans and special interests.
- We need a competitive tax code that creates more jobs and higher wages for Americans. It’s time to give American workers the pay raise that they’ve been looking for many, many years.
- We need tax relief for middle-class families. We will lower taxes for middle-income Americans so they can keep more of their hard-earned paychecks.
- We want to bring back trillions of dollars in wealth that’s parked overseas. By making it less punitive for companies to bring back this money, and by making the process far less bureaucratic and difficult, we can return trillions and trillions of dollars to our economy and spur billions of dollars in new investments in our struggling communities and throughout our nation.