President Trump’s weekly address: Four principles for tax reform

Transcript:

My fellow Americans,

The American Family has always been the heart of our great nation.  In homes across this country, families teach their children to work hard, to love each other, and to make the most of their talents in pursuit of their dreams.

Yet for too long, American families have been hurt by Washington’s policies that put the interests of other countries before the interests of our country.

That is why, in my Administration, we are pursuing tax cuts and reform that create jobs in America, for American workers – not foreign workers, but American workers.

Here are my four principles for tax reform:

First, we are going to make the tax code simple and fair so that families can spend more time with their children, and less time wading through pages of paperwork.  A staggering ninety-four percent of families use professional help to do their taxes – and that’s not fair, that’s not right.  That’s why under our plan, ninety-five percent of Americans will be able to file their tax return on a single page without keeping receipts, tracking paperwork, or filling out extra schedules.

Second, we are going to cut taxes for the middle class so that hardworking Americans can finally save more for their future.  We want to help families keep more of what they earn – and to be able to afford the costs of raising a family.  Our tax code should recognize that the most important investment we can make is in our children.

Third, we are going to restore America’s competitive edge by making our tax system more attractive for investment and job creation.  Our business tax rate is the highest in the world – pushing jobs to foreign countries.  That’s not what we want, that’s not what I’ve been talking about all these years – I’ve been talking about the exact opposite.  We need to bring down our tax rate so we can create jobs, wealth, and opportunity right here, in the United States of America, so we can bring our hobs back and bring our businesses back.  We want tax reform that puts America First.  We want tax reform that makes America great again.

Finally, we are going to bring back trillions of dollars in wealth parked overseas so that it can be invested in our country, where it belongs.

We have a once-in-a-generation opportunity to reform our tax code and pave the way to unprecedented prosperity.  By doing what we’re doing, we will see results like you’ve never seen before.  It will be the largest tax cut in our country’s history.  I am asking members in both parties to come together, to put aside partisan differences, and to pass historic tax reform and tax cuts for the great citizens of our nation.  That’s how we will all succeed and thrive together – as one team, one people, and one American Family.

Thank you, God bless you, and God bless America.

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