tv President Trump Begins Push for Tax Reform Praises Harvey Storm Response CSPAN August 31, 2017 1:17am-1:55am EDT
mattis to south korea's defense minister. we will have that later. senate the house and back in session on september 5, we're looking at the work members of congress will be handling. join us for a review of what is ahead for congress thursday night at 8:00 eastern on c-span and c-span.org. president trump was in missouri to talk about changes to the u.s. tax system. the president called on congress to move forward on tax legislation this fall. ♪ president trump: thank you very much. thank you.
thank you very much. it is so nice and we appreciate it, and all the people outside, waving the american flag. believe me, thank you very much. i want to thank all of the tremendous employees here for hosting us today. where is jerry? thank you, jerry, what a job. i have heard so much about you. i also want to welcome all the distinguished guests that are here with us for this important event. secretary of the treasury steve mnuchin. [applause]
president trump: thank you. the secretary of commerce, wilbur ross. [applause] president trump: small business administrator, linda mcmahon. [applause] president trump: and from the purely political world, a friend who did such an incredible job with his beautiful wife at the inauguration, senator roy blunt. thank you. thank you, roy. [applause] president trump: the governor is here, who is doing some job. thank you, governor. special. lieutenant governor parson, thank you, lieutenant governor. and our great members of commerce, i want to thank you all for coming. there are so many. i asked the governor, should i
announce them all? there are so many. i am glad they are here. my friend for a long time, and somebody who liked me from the beginning and i like him. billy long. right? right from the beginning. where is blaine? good. thank you. representative jason smith. thank you for everything, jason. representative ann wagner. good job. and we have so many more. anybody i forgot? everything ok? good. i got it. thank you.
i appreciate it. to the congressmen and congresswomen, we very much appreciate you being here. thank you very much. [applause] president trump: before we begin, i would like to take a few moments to discuss the deeply tragic situation in texas and louisiana. as we know, the gulf coast was hit over the weekend with a devastating hurricane of historic proportion. torrential rain and terrible flooding continue to pose a grave danger to life and property. our first responders have been doing absolutely heroic work to shepherd people out of harms way and their courage and devotion has saved countless lives. they represent the very best of america. [applause]
president trump: we must be vigilant. we must protect the lives of our people. i was on the ground in texas yesterday to meet with governor abbott, who is doing by the way an incredible job. local officials, so we could coordinate the very big and unprecedented federal response. in times such as these, we see the true character of the american people, strength and love and resolve. we see friend helping friend and neighbor helping neighbor, stranger helping stranger. together, we will endure and we will overcome. [applause] president trump: to those affected by the storm, we are praying for you and we are here
with you every single step of the way. i can speak for the people in this room, every step of the way. [applause] president trump: to those americans who lost loved ones, all of america is grieving with you and our hearts are joined with yours forever. the citizens of texas on the gulf coast need all the prayer and resources our community has to offer. recovery will be tough but i have seen the resilience of the american spirit firsthand all over this country. people in houston and across texas and louisiana, we are here with you today. we are with you tomorrow and we will be with you every day after to restore, recover and rebuild. our thoughts and prayers remain firmly with the citizens and our
fellow people, great people all affected by the tragedy. we are so glad to be back in the heartland with very fine folks of missouri. [applause] president trump: i said to the senator blunt and billy long on the plane coming in, can i say missouri or should i say missour-uh? they said whatever you want. i said good. i'm especially pleased to be here in springfield, the birthplace of the great american icon, the legendary route 66. who would have known that?
[applause] president trump: this is the place where the main street of america got its start and this is where america's main street will begin its big, beautiful come back. you are seeing it now. this is a comeback of historic proportions. you are seeing it happen now. [applause] president trump: we are here today to launch plans to bring back main street by reducing the crushing tax burden on our companies and on our workers. [applause] president trump: our self-destructive tax code costs americans millions of jobs, trillions of dollars, and billions of hours spent on compliance and paperwork. you have seen what happened with regulations. they are going fast.
many regulations are unnecessary and they are going fast. [applause] president trump: that is why the foundation of our job creation agenda is to fundamentally reform tax code for the first time in more than 30 years. i want to work with congress, republicans, and democrats on a plan that is pro-growth, pro job, pro-worker, and pro-american. [applause] president trump: there is no more fitting place to launch this effort than right here surrounded by people whose skill, determination and drive are second to none. [applause]
president trump: before i start, ivanka trump, i see my beautiful daughter is in the audience. stand up. [applause] president trump: she is working very hard and i am very proud of her. for many decades, route 66 captured the american spirit. communities along this historic route were a vivid symbol of america's booming industry. families pass bustling towns on the way to explore the great american west. high-quality manufacturing jobs, gave americans a paycheck that could support a family.
mr. cook is a great example of the people who do it. stand up. [applause] president trump: i think they like you. and provided millions of our fellow citizens with the pride and dignity that comes with work. in recent years, millions of americans have watched the prosperity slip away. and it was not pleasant to watch. especially for me. i would sit back and i could see what was happening was not good.
if we want to renew our if we want to learn new our prosperity and restore opportunity, then we must reduce the tax burden on our companies and workers. [applause] president trump: in the last 10 years, our economy has grown at only around 2% per year. you look at other countries and what their gdp is, they are unhappy when it is 7, 8, and nine. i speak to them, leaders of countries, how are you doing? not well. why? gdp is down 7%. and i'm saying we were 81 percent just a number of years ago. we will change that around, that i can tell you. we will change it around. [applause] president trump: and today, a very appropriate day for this to happen. we announced we had 3% in gdp.
it just came out. on the yearly basis, the last administration never hit 3%. we are really on our way. fleet chief the same 3% growth, it means 12 million new jobs and $10 trillion of new economic activity over the next decade. some numbers. [applause] president trump: i happen to be one who thinks we can go much higher than 3%. there is no reason why we should not. so this is our once in a generation opportunity to deliver real tax reform for everyday hard-working americans. i am fully committed to working with congress to get the job done.
i do not want to be disappointed by congress, you understand me. you understand. understand congress. i think congress is going to make a comeback. i hope so. i tell you what, the united states is counting on it. [applause] president trump: here are my four principles for tax reform. first, we need a tax code that is simple, fair, and easy to understand. and that means getting rid of loopholes and complexity that primarily benefit the wealthiest americans and special interests.
our last major tax rewrite was 31 years ago. it eliminated -- both individuals and businesses. at the time, it was really something special. since then, tesla laws have tripled in size and tesco good itself now spans more than 2600 pages and most of it is not understandable. tax rates have increased and special interest loopholes have gone back into the system. the tax code is a massive source of complexity and frustration
for tens of millions of americans. in 1935, the basic for most people filed had to sample pages of instruction. today, that has 100 pages of instructions and it is pretty complex stuff. test code is so complicated that more than 90% of americans need professional help to do their own taxes. this enormous complexity is unfair and disadvantages ordinary americans who do not have an army of accountants while benefiting special interests. it is wrong. thank you. [applause] president trump: first and foremost, the tax system should benefit loyal hard-working americans and their families. [applause]
president trump: that is why tax reform must dramatically semper fi the tax code, eliminate special interest loopholes, and i speak against myself when i do this, and i might speak against mr. cook and we are both ok with it, isn't that right? it is crazy. maybe we should not be doing this, you know? [laughter] president trump: but we are doing the right thing. [applause] president trump: it is true. and allow the vast majority of our citizens to file their taxes on a single simple page without having to hire an accountant. we need a competitive test code with more jobs and higher wages for america. time to give them the pay raise they are looking for for many years. [applause]
president trump: in 1986, ronald reagan let the world cutting our tax base by 34% caret it was below the average rate for developed countries at this time. everyone thought that was in monumental thing to happen. under this prone america system, our economy just went beautifully right through the roof. the middle-class thrived. median family income increased. other countries thought what is america doing in what is happening with the united states? they acted swiftly by cutting taxes lower and reforming their
tax system to be far more competitive than ours. over the past 30 years, the average business tax rate fell among developed nations to less than 24% in some countries have an unbelievably low tax, including, by the way, china, and others that are highly competitive and really doing very well against us. they are taking us, frankly, to the cleaners. so we must, we have no choice, we must lower our taxes. your senator, clear misconduct -- mccaskill, she must do this and if she does not do it for you, you have to vote her out of office. [applause]
president trump: we cannot do this anymore with the obstruction and the extortionists -- asked -- obstructionists. essentially the biggest ever, we're looking for the biggest ever, jobs in our country cannot take off as they should. the dems obstructed so many other things we had not one vote to try and fix health care and get rid of obamacare. the strategy of economic rivals work. they make it far lower than many cases and jobs, left our
country. large corporations change their business model to other countries and back to the united states, they have made massive problem -- profits and they would not be paying tax either. we lost the jobs and the taxes and closed the buildings and the plants in the factories. we got nothing but unemployment. we got nothing. other businesses, even classic american brands, switched headquarters to foreign countries. because of this and other reasons like weak borders, america remains stuck in the past. we have general kelly here today and we stopped 78% on the border
traffic coming through in a short time. [applause] president trump: a whole different world out there right now. today, we are still taxing our business is at 35% and it is way more than that. in some cases, way above 40% when you include state and local taxes in various states. the united states is now behind france, behind germany, behind canada, ireland, japan, south korea, and many other nations. with these countries in almost every country, we have massive trade deficit numbers that you would not believe. this administration is going to
fix that one by one, we're fixing it. we working on the horrible and terrible nafta deal that took so much business out of your state and cities and towns. we are working on it. let's see what happens. [applause] president trump: mexico is not happy. if i told them you make a lot of money for a lot of years and every one left you alone, we have got to change the deal and we hope we can renegotiate it but if we cannot, we will terminate at and start again with a real deal. [applause] president trump: when it comes to the business tax, we are dead
last. this cannot be allowed to continue any longer. america must lead the way and not follow from behind. we have gone from a lower tax rate than economic competitors to one that is more than 60% higher -- 60% higher. we have totally surrendered our competitive edge to other countries. totally surrendered. we are not surrendering any more. [applause] president trump: ideally, and i say this for the secretary of treasury, we would like to bring the business tax rate down to 15%, which would make the tax rate lower than most countries but by no means the lowest, unfortunately, in the world. what it would make us highly competitive. in other words, foreign companies have more than a 60% tax it vantage over american countries. they can sell products and
services at a lower cost and still make more money than u.s. competitors. we cannot restore our wealth as we continue to put our businesses at such a tremendous disadvantage. we must reduce the tax rate on american businesses so they keep jobs in america, create jobs in america, and compete for workers right here in america, the america we love. [applause] president trump: thank you. thank you very much. because one businesses compete for labor, your wages will go up.
lower taxes on american businesses mean higher wages for american workers and means more product made right here in the usa. [applause] president trump: when i was growing up, i used to see the signs and they were stamped, made in the usa you don't see it anymore p or we will go back to made in the usa made in the usa. the third answerable for tax reform is crucial. tax relief for middle-class families. [applause] president trump: i have been saying this for long time. they have been the forgotten people. they are not forgotten any longer.
i can tell you that. we will lower taxes for middle income americans so they can keep more of hard-earned paychecks and they can do a lot of things with those paychecks. that means buying product ideally made in the country. it means they will go out and spend their money and it will be a beautiful thing to watch. it includes helping parents afford childcare and the cost of raising a family. it is so important to a vodka trump. very very important to everybody in the room but so important to
my daughter. it is one of her really big beliefs. she is very committed to that. we believe ordinary americans know better than washington how to spend their own money and we want to help them take home as much of their money as possible and then spend it. [applause] president trump: so they will keep their money and spend their money and buy our product. our factories will be moving again, companies will move back to the country and jobs will prosper and our country will be like it says on the beautiful red hat, it says make america great again. that is what we will do. right? [applause] president trump: fourth and finally, we want to bring back trillions of dollars of wealth. because of the high tax rate, and horrible, outdated and bureaucratic rules, large
companies that do business overseas will often park there products offshore to avoid paying a high united states tax if the money is brought back home. they leave the money over there. the amount of money is anywhere from three to $5 trillion. can you believe that? by making it less punitive for companies to bring back the money, and by making the process far less bureaucratic and difficult, we can return trillions and chileans of dollars to our economy. and spur billions of dollars in new investments throughout the nation. it is time to rebuild. [applause] president trump: my administration is a new economic model. it is called simply, the american model. we encourage companies to hire
and grow american, to raise wages for american workers, and help rebuild american cities and communities. that is how we will succeed and grow together, one team with one shared sense of purpose and one glorious american density. [applause] president trump: today, i'm calling on all members of congress, democrat, republican, an independent, to support pro-american tax reform. they have to do it. [applause] president trump: it is time. i'm congress -- calling on congress to provide a level
playing field for workers and countries. it looks -- put more money in the pockets of every day hard-working american people. and also, so they can continue to grow and expand. [applause] president trump: what could possibly be more pipe -- more bipartisan to allow families to keep more of what they earned. in a country they love so much. let's at least try to put partisan posturing behind us and come together as americans to create the 21st century tax code our people deserve. [applause] president trump: if we unite in
the name of common sense and the name of common good, we will add millions of new jobs, bring back trillions of dollars, and we will give america the competitive advantage it so desperately needs and has been looking for for so long. it is time. [applause] products may -- made with american hands, american labor, and american grit will once again be delivered throughout the world.
that is true. true. it is time. instead of exporting our jobs, we will exceed or our goods. our jobs will both stay here in america and come back in america. we will have it both ways. millions of struggling cities will be lifted from welfare to work. they will love getting up in the morning and they will love going to their jobs. they will love earning a big fat info paycheck. they will be proud again. that is the future i want for our people, for america. a nation where we are proud and prosperous, united, and free. today, i am asking every citizen
to join me dreaming big and bold and daring beautiful things for our country. i am asking every member of congress, which we have with us today, to join me unleashing america's full potential. i'm asking everyone in the room and across the nation to join me to demand to see nothing but the best for our nation and our people. if we do these things, and if we care for and support each other and love each other we will truly make america great again. thank you. god bless you. thank you. thank you very much. thank you, governor, thank you, senator. thank you, everybody. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org]
>> here is a tweet from and coulter. this is the most 10 deaf speech donald trump has ever given. congress returns september 5 and plans to pick up several key issues, including tax legislation. congress needs to pass federal spending bills to keep the government open. also on the agenda, increasing the debt ceiling to avoid a default on u.s. debt. they could also try to pass health care legislation, which stalled earlier. watch coverage of the house on c-span and follow the senate on c-span two. announcer: c-span's washington journal is live every day with news and policy issues that impact you. coming up thursday morning, the hills white house columnist talks about the administration's hurricane harvey response and other news of the day.
michael brown, former fema director, discusses the lessons learned from hurricane katrina and recommendations for hurricane harvey recovery efforts. afghan ambassador to the u.s. talks about president trump's strategy for afghanistan. be sure to watch c-span's washington journal live at 7:00 eastern. join the discussion. >> richard trumka talks about the future of the labor movement and the relationship with the trump administration and his decision to quit the many fracturing jobs council, which was later dissolved.