(Worthy News) – President Donald Trump on Wednesday touted tax reform as his key to unlocking economic growth and job opportunities — and put the onus on Congress to overhaul the U.S. system.
“So, this is our once-in-a-generation opportunity to deliver real tax reform for everyday, hard working Americans. And I am fully committed to working with Congress to get this job done,” Trump said at a speech in Missouri kicking off his tax-reform push. “And I don’t want to be disappointed by Congress. Do you understand me?”
The president described chopping business and individual tax rates as foundational to his goals to dramatically boost American gross domestic product and job creation by U.S companies. If the U.S. does not change its tax system, “jobs and our country cannot take off the way they should — and it could be much worse than that,” Trump said. [ Source (Read More…) ]
“I want to work with Congress, Republicans and Democrats alike, on a plan that is pro-growth, pro-jobs, pro-worker and pro-American,” Mr. Trump told employees at a factory in Springfield. “Your senator, Claire McCaskill, she must do this for you. If she doesn’t do it for you, you have to vote her out of office.”
Treasury Secretary Steven Mnuchin and White House chief economic adviser Gary Cohn have yet to hash out details of a tax reform plan with congressional Republican leaders, but the president said it should include tax relief for middle-class families, simplification of tax forms, elimination of “special interest loopholes” and a cut in the business tax rate from 35 percent to 15 percent.
“My administration is embracing a new economic model. It’s called, very simply, the American model,” Mr. Trump said. “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.” [ Source (Read More…) ]