Trump Hits The Road To Promote Tax Cuts (Details To Come)

Trump Hits The Road To Promote Tax Cuts (Details To Come)

President Trump on Wednesday began a populist push for tax reform, promising to supercharge the economy with budget-busting business tax cuts aimed at making USA companies more globally competitive.

Trump's attempt to frame the debate comes as he and his administration have raised the need for tax reform in fits and starts since the early days of his presidency.

That's why we are committed to reforming the tax code and why President Trump reiterated his commitment today in Missouri.

Rep. Dina Titus, D-Nev., said in a statement, "The president's so-called tax reform plan, which is full of vague promises, rigs the system to benefit the wealthy".

President Donald Trump arrives to speak about tax reform, Wednesday, Aug. 30, 2017, at the Loren Cook Company in Springfield, Mo.

"I think Congress is going to make a comeback-I hope so", Trump continued.

McCaskill faces reelection and while she doesn't have a GOP opponent yet, the two-term senator is one of only a few remaining statewide Democratic officeholders in Missouri. Claire McCaskill doesn't support his push for tax cuts, "you have to vote her out of office".

The President only stated the broad outlines of what the tax code would look like, if his plans succeed and added that the White House have yet to reach an agreement on the same, reported CNN.

Trump visited Springfield, Missouri, hoping to pull voters and lawmakers behind what described as a "once in a generation" opportunity to remake the tax code. That change has gone relatively unnoticed: the campaign plan would have required USA multinationals to immediately pay tax on their foreign profits at the same rate as domestic profits.

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With all these political decisions looming, Trump is focusing on his tax cut idea, which he sees as central to his domestic agenda.

He further offered that his tax overhaul plan would bring back trillions of dollars in wealth that large companies are now parking overseas due to the United States' high tax rate and "horrible bureaucratic rules". "We're going to make taxes simple and easy so people don't have to spend a bunch of time and money on preparing their returns". He said partisanship needs to be put aside to create the "21st century tax code that our people deserve".

Here's a backgrounder on a key argument the administration has been making to sell the benefits of tax reform for average Americans.

While the President has been clear about tax cuts that benefit high-income households and large corporations, he's revealed far less about how his plan would affect middle-income Americans.

The reason Trump skipped over those details, while suggesting his plan would accomplish something very different, is that Americans tell pollsters they want something very different.

Trump said he chose Springfield because of its association with historic Route 66. "They have to do it, it's time", Trump said.

The speech will be the first in a series of events for the president and the administration as it rolls out its first major legislative push since congressional Republicans failed to deliver a bill to repeal and replace Obamacare in late July.

In a Gallup poll from April, six in 10 Americans overall said upper-income earners pay too little in taxes. "Do you understand me?"

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