Trump: Tax Cuts ‘Will Mostly Benefit the Middle Class,’ Create Growth of ‘4, 5, Maybe 6%’
It now appears that Republicans have the votes to pass a sweeping tax cut after Sens. Marco Rubio (R-FL) and Bob Corker (R-TN) pledged support for the tax plan earlier this week. Both the House and Senate plan to vote on the final bill next week and, if passed, it is expected to reach President Trump’s desk before Christmas, with many of the changes taking place by January 1st.
Prior to heading to Camp David today, the president briefly spoke to reporters and boasted about the tax plan, claiming that the middle class will be the biggest beneficiaries and that the widespread tax cuts will spur growth in the economy.
“This really will mostly benefit the middle class and jobs,” Trump declared. “Companies, companies are coming in. They’re pouring into the country. They’ve already started. This will be great for jobs. It will be fantastic for the middle income people and for jobs.”
After claiming that as much as $4 trillion will come back into the country from overseas due to large corporate tax cuts and calling it a Christmas gift to the middle class, Trump was asked why the middle class tax cuts in the plan were temporary.
“Well what will happen is at the end, whichever the administration is, in years from now, they’ll make it and maybe can make it more generous if we can get the economy like it should be,” Trump exclaimed before boasting about recent economic growth and his predictions of even greater growth.
“The economy now has hit 3%,” POTUS stated. “I think we can go to 4%, 5, maybe 6% ultimately. Each percentage point is $2.5 trillion. We are back. We’re really going to start to rock.”
Despite Trump and Republicans selling the plan as a help to middle-income Americans, recent polls show that it is highly unpopular among voters, with most seeing it as helping the ultra-wealthy and corporations.
Watch the clip above, via CNN.
[image via screengrab]
Have a tip we should know? [email protected]