August 30, 2017 President Trump begins major push for tax reform Outlines his four principles for tax reform President Trump began a major push for tax reform on August 30, 2017, highlighting how reducing tax rates and simplifying the tax code will benefit average Americans. The speech offered no new details on the tax plan the Administration expects Congress to write. "It's time to give American workers the pay raise that they've been looking for, for many, many years," he said. In a speech at the Loren Cook Company, a manufacturer of fans and exhaust systems, President Trump said Springfield, Missouri, is the birthplace of Route 66, the Main Street of America, and where America's Main Street will begin its "big, beautiful comeback." Trump said he is launching plans to bring back Main Street by reducing the "crushing tax burden" on our companies and on our workers, and to reform a "self-destructive" tax code. "We believe that ordinary Americans know better than Washington how to spend their own money and we want to help them take home as much of their own money as possible and then spend it," President Trump said. "So they'll keep their money, they'll spend their money, they'll buy our products, our factories will be moving again, companies are going to move back into our country, jobs are going to prosper … " The President said "ideally" he would like to bring the business tax rate down to 15% to make the United States highly competitive, and lamented that businesses have moved their jobs and switched their headquarters outside of the United States. "When it comes to the business tax, we are dead last," he said, adding that we must reduce the tax rate on American businesses so they keep and create jobs in the United States. He listed four principles for tax reform: — A tax code that is simple, fair and easy to understand, meaning getting rid of loopholes that primarily benefit special interests and the wealthiest Americans; "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," the President said. President Trump said he wants to work with Congress, Republicans and Democrats alike, to achieve tax reform that is pro-growth, pro-jobs, pro-worker, and pro-American; and to unleash the nation's full potential. "I don't want to be disappointed by Congress … " he said. "I think Congress is going to make a comeback. I hope so." The speech was delivered in a state won by Trump last year and with a Democratic senator, Claire McCaskill (D-MO), who serves on the Finance Committee and who is up for re-election in 2018. The other Missouri Senator, Roy Blunt (R-MO), attended the speech in addition to Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, and others. Other tax reform events may be held in states with Democratic members up for re-election to encourage them to partner with the Administration on the issue. Of McCaskill's cooperation on lowering taxes, Trump said she "must do this for you," and if she doesn't, "you have to vote her out of office." House Ways and Means Committee Chairman Kevin Brady (R-TX) released a statement saying he was encouraged by the President's remarks on tax reform: "He explained clearly today why Washington must act now on pro-growth tax reform that will create jobs, grow paychecks, and improve the lives of all Americans. As the President mentioned, our tax reform plan will make the American Dream more accessible than ever before. The Ways and Means Committee is ready to work with the President and deliver on this important priority this year." ———————————————
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