tv President Trump Remarks on Tax Reform CSPAN October 31, 2017 7:18pm-7:36pm EDT
follow the house live on c-span when members return wednesday at 10:00 a.m. eastern for morning speeches and noon for legislative work. >> c-span's washington journal -- washington journal live every diday with news and information that affects you. joining us to talk about the tax plan is tom mcclintock who will also talk about the russia probe. nd the selective service director don benton. and author and former obama official talks about his book "impeachment: a citizen's guide." watch washington journal live. join the discussion.
>> earlier today president trump met with business leaders and members of his cabinet to discuss tax reform. taking place at the white house this is 15 minutes. president trump: please sit down. really good group. thank you very much for being here. for the incredible work you're doing to help us pass the really historic tax cuts. there's never been anything like this in the history of our country. it's cuts and it's relief and it's also reform and frankly it's also simplification. so we're covering everything. there has never been anything like it and it's so important, the economy is doing very well. it can do much better. a lot of jobs are going to come
from this and a lot of companies will start pouring book into the united states. we're going to be announcing one big one sometime very shortly. very big one coming back into the united states. all of you have done a tremendous job mobilizing your members, talking to members of congress which is very important and making a strong case for tax reform in the media. the media is not all fake. so therefore we can get a fair shake. now is time to redouble our efforts. your country needs you now more than ever before. you are leaders of this country. and certainly leaders on this subject. you know more about it than anybody. we need you to be united, committed, and proact i in order to overcome forces fighting and there are forces fighting out there that very much benefit by the way it is now but that's bad for the country. they know that. but they're fighting for themselves, they're not fighting
for the country. in a few days, i'll be traveling to asia to advance america's economic and national security priorities. i'm counting on all of you to be back here working to maintain our momentum on tax reform and tax cuts and that will be a short period of time i'll be away for about 10 1/2 days and we'll bet back -- we'll get back very quickly. we're meeting in china, in south korea in japan, we're going to vietnam and to the philippines, which is a strategically important location where the previous administration was not exactly welcome, as you probably remember. the democrats will say our tax bill is for the rich but they know it's not and what they will do is, they don't even know the tax bill. the tax bill hasn't even really been put out yet. it will be out in the next short period of time but they immediately say it's for the rich, it's for the rich, because that's the right thing to say, for them. but it doesn't work. i think we'll have some
democrats joining us and voting for the reduced taxes because it's a tax bill for middle class, it's a tax bill for jobs, and it's a tax bill for business which is going to create the jobs. we're bringing it down from 35 down to 20. while i'm in asia, members of the cabinet will be traveling around the country talking directly to taxpayers and focusing on the regional media, which we find to be a much more credible media, to be honest with you. in fact, i found it to be incredible, how good they are. of course secretary mnuchin, my entire economic team will remain totally focused on tax reform. they'll be staying here. and will continue to work closely with all of you. had a great relationship with most of the people in the room. we need your continued input to make sure the final bill gets all the details right and that we get that approval. i want the house to pass a bill by thanksgiving. i want all of the people standing by my side when we get
ready to sign by christmas, hopefully before christmas you'll all be in the room standing front row, center, i think we'll be able to find a place where you can all stand front row center. it'll be a big event. it'll be the biggest tax event in the history of our country. thank you all for being here today. we have a couple of folks i'd like to have say maybe a couple of words. tom donohue has been president of the u.s. chamber of commerce for a long time. tom, do you have anything to say? tom: thank you for having me, mr. president. the business community has been waiting a long time for an administration and a president and a willing congress to do what we haven't done for many ecades, and we think we were lucky to arrange a budget so we're going to have a better opportunity in the senate. i think you're right, there are some members of the democratic
legislature that will come around on some of this, particularly if the numbers are as promised. and you hit it right on the head. we've got to work on it. going to have some differences amongst the business community on what should be the takeaways, but we just have to work on that and i think your planning is really quite good. off to asia and everybody else get it worked out and then come back and we'll see what we've got. thank you very much. president trump: appreciate it very much. and what you said is important, we did get the budget pass. that was a big event, it doesn't happen often. we got it fairly easily passed, we had a couple of extra votes if we needed them, more than a couple of votes. there's a tremendous spirit for this we'll have no democrat support. we may have on the tax cuts, i
think it's going to be very hard, for five or six of them to run successfully saying they're going to raise taxes this edemocrats want to raise taxes and create obstruction. and the republicans want to lower taxes and get rid of regulations. i've gotten rid of more regulations in the first nine months than any president has for their term in office. that's a big statement. but we really just begun. i would say we have at least another 50% we want to do. so that's going to be fantastic. in some cases it's statutory, we have to give a notice, have to give oots notice, you have to wait 90 days. but we've got a long that -- gone along that statutory process. i will tell you tom, you're going to see a lot of additional rere-leaf from these horrible regulations that have been killing our country. they've literally been killing. g.d.p. was just announced. shockingly to a lot of people, despite the hurricanes which
could be considered to be one point, we were three. and we were 3.2 last quarter but we were 3. to be at three with one point, that would mean we would have hit four or thereabouts. those are numbers that have not been seen for many years. we are doing well. we'll continue to do well. the big thing is we have companies that really want to move back into the united states now because of regulation. because of what we're doing with taxes. and some big ones are going to be announcing very soon. dirk, could i ask you to say a few words from the national association of wholesale distributors? that would be great. >> thank you. appreciate the opportunity to be here. a few of us in the room are old enough to remember being in this same room when president reagan was working on tax reform. the two of us. president trump: you don't look that old. >> tom was here.
30 years or so passed, the tax code doesn't resemble what was done in 1986. reform is long, long overdue. i represent an industry with very high effective tax rates. frankly, they're tired of paying the over guys' taxes. unstate bud i assume that the kind of price of admission for being here today is that you support the process going forward. obviously each of us have to see the details and there may be one thing or another we'd like to see different but the broader perspective is, for the good of the economy, the good of the country and frankly, i think, the good of our members, you have to support the process going forward. you have our commitment to do precisely that. president trump thank -- president trump: that's great. thank you. let's talk about tax cuts,
that's the big thing, tax cuts. we desperately need them. but so many other things are happen, including bringing $4 trillion back into the united states, that money will be put to work in our cuventry, for our people, creating our jobs in factories and plants. i think the number could be higher than $4 trillion. it's been $2.5 trillion for so long. everybody said $2.5 trillion but it's gotten bigger rm they kept saying 2 1/2, i think the number will be well over $4 trillion, will be coming back into our country. and so many other things. one of the other elements that are important, karen, and you're going to say a few words next because i'm dying to hear what you have to say, but one of the things that's so important is simplification. too complicated. we're simplifying it greatly. i want to thank all my folks for being here and working on it. gary, steve, everybody. the process is complicate bud the end result will not be that complicated. people are going to pay less tax
by a lot. companies are going to pay less tax by a lot. that's a big difference. and companies are going to start rebuilding and they're going to stay here and going to expand and build new plants in this country. they won't be going to other countries like they have been for many, many decades. karen, could you say a few words, small business entrepreneurship council? karen: yes. thank you so much for your support and leadership on this issue. this is one of the most critical issues for small business and they know if they get tax reform through, we're going to have more capital to put back into usinesses. they're going to invest more and have more for employees. these business owners are leads of the community back in their communities and they see the lack of die nanism and don't see new business creation in their communities. that's a serious problem in this
country. the lack of entrepreneurship. weak entrepreneurship. 3.2 million losing businesses because of people not taking risks. so we're very excited about tax reform in terms of growth it will bring, the investment it will bring, making the u.s. a haven for capital. again. because we need to get that edge back. need to encourage people, more people, to start businesses, particularly millenials, starting businesses again. which is going to add to our competitiveness. thank you. president trump: one of the things we've been talking about and have seen, there's never been anything like it, the level of enthusiasm, the enthusiasm for business, for manufacturing, it's the highest level it's ever been. highest level since the charts started. and we have a tremendous level now of enthusiasm for business and for manufacturing and nobody has ever seen anything like it. of course the stock market is at an all-time high. historic high.
there's never been, it's going up, i think it was 54 times since i was elected. we've hit the record 54 times and i notice it's up again a little bit today. that's always good. we're going to try to keep it going up. we created almost $5.5 trillion in stock market welt. think of that. $5.5 trillion since november . so we're honored by all of that but a big part will be tax cuts and tax reform and we'll work on that together. thank you all very much. thank you. we're not looking for that hopefully not. something -- some people have mentioned that, hopefully not. >> are you going to pardon manafort? president trump: thank you, everybody. thank you very much.
>> just a note that tomorrow the house republican leadership plans to introduce their own tax reform legislation. we should see that sometime on the floor. the house returns wednesday at 10:00 a.m. eastern for morning speeches and noon for legislative work. on the agenda, a measure that authorizes the state department to revoke or deny u.s. passports to any individual affiliated with a foreign terrorist organization. also expected, a measure related to environmental reviews of forest management activities after being damaged by wildfires and other natural disasters. follow the house live on c-span. representatives from twitter, facebook and google testified before congress wednesday. as part of the investigation into russia's influence on social media and the 2016
election. complete live coverage available on the c-span networks. on wednesday, two hearings, live on c-span3. at 9:30 a.m. eastern, the senate intelligence committee and at 2:00 p.m. eastern the house select intelligence committee hear testimony from sean edget of twitter, colin stretch of facebook and kent walker, senior vice president and general counsel for google. watch both hear option c-span3, online at c-span.org or listen live on the free c-span radio app. >> he's been called one of the premier clonicalers of our age, best-selling author whose books have been adapted into three award winning movie, michael lewis will be our guest sunday on "in depth." >> one thing the books have in common, they're interesting characters to me in interesting situations. so the trick is that if you can
attach the reader to the character, at the beginning of the book, they'll follow that character anywhere. trust me that there is no one in america who wants to read my description of collateralized debt obligations but you realize the lives of these people turn on knowing what that is, you want to know. o it's a very, very powerful thing that is the origins of literature. >> mr. lewis is the author of several books including "liar's poker" "moneyball" and his most recent "the undoing project." we'll take your calls, tweets and facebook questions. watch "in depth" with author michael lewis, sunday, live from noon to 3:00 p.m. eastern on ook tv on c-span2. sunday night, on "q&a," pulitzer
prize winning biographer and author of "alexander hamilton," on chernow and his new book ulysses s. grand. >> hamilton was young and dashing and handsome and romantic, a perfect leading man for a musical. grant, grant is a different kind laconiche was plain and and the charisma of grant was that he had no charisma. the drama very sauven that he was not dramatic in different situations. he's no less fascinating but it's kind of a much more, you know, subtle character. in that respect reminded me much more of george washington that george washington had a similar kind of reserved,