President Trump in Missouri on Tax Reform CSPAN November 29, 2017 6:24pm-7:17pm EST
the tax cuts contained in the legislation will help middle-class and businesses. his is 50 minutes. >> i'm proud to be an american where i know i'm free, where i won't forget the men who died to gave that fight to me and i gladly stand up next to you and defend her till today because there ain't no doubt i love this land god bless the u.s.a. ♪ president trump: i told you we would be saying merry christmas again, right? and it's great to be back in missouri, sign of a lot of good things because you are doing
really well and i thank the governor and the attorney general, by the way, joshua, josh, our next senator, where is he? going to be a great senator. and he wants to see a major tax cut. i think i can speak for him, right? and your current senator does not want to see a tax cut. that's not good. that's not good. she wants your taxes to go up. secretary mnuchin who has been oing a fantastic job and linda mcmahon. he is helping a lot of people. want to thank missouri's sam graves. they flew in with me. they wouldn't miss that flight. vickie hartzler.
thank you vickie. billly long, who was my first endorser in the entire country, right? thank you right? representative luke meyer. interviewer, jason smith and a nmp n wagner. and i have a lot of faith until faith, sali faith. where's sali, your mayor. hi, sali. stateic schmidt, missouri treasurer. three months ago we came to this state to launch our plan to bring back main street by cutting taxes for american families and small businesses. today i have come back to this
incredible state to spend an afternoon with its amazing citizens -- you are amazing -- to help push our plan for historic tax cuts right across that finish line and we are going to do that. we can usher an era of opportunity and growth for this opportunity. tax cuts vr already passed the house of representatives. [cheers and applause] president trump: big ones. the eyes of the world now turn to the united states senate. a successful vote in the senate this week will bring us one giant step closer to delivering an incredibly victory to the american people, massive
tax cuts and reform -- i don't mention the word reform because women don't know what we are talking about. for years they haven't been able to get tax cuts since reagan.
and they talked about tax reform and tax cuts. i said don't call it tax reform. we'll add the name reform. but it's tax cuts. [cheers and applause] president trump: that's the governor -- we cannot sit by and watch ourselves losing in competition to other countries as they continue to take away our jobs because their tax codes are more competitive and less burdensome than ours. that's why we must cut our taxes, reduce economic burdens and restore america's competitive edge. look at what is happening to our markets. people get it. [cheers and applause] president trump: if we do this, then america will win again like never ever before.
[cheers and applause] president trump: a vote to cut taxes is a vote to put america first again. we want to do that. we want to put america first again. [applause] president trump: it's time to take care of our workers and protect our communities and rebuild our great country. you know, we've spent -- we've spent almost $7 trillion in the middle east over the last 16 years. i'm taking care of it. and doing numbers like isis has never seen it before. we are wiping out the terrorists. they're bad. [cheers and applause] president trump: and all of that, but we've spent almost $7 trillion. we could have rebuilt our country four times over and going to start spending here.
[cheers and applause] president trump: with that being said, we are going to protect our country, whether it's north korea, we are going to protect our country like never before. we are going to buildup our military and make our planes and boats and everything here, but we are going to buildup our military. [cheers and applause] president trump: but we've got to start focusing on our country, that's why i'm saying make america great again. you never heard that expression? all those hacks -- they never heard that are expression before. that was a good expression and it's a true expression and happening. in fact today, some numbers came out that people haven't seen in many, many years. this beautiful city of st. charles is the beautiful place to deliver the message where america's pass and future come
to life on its historic brick find main street, do you agree? [cheers and applause] president trump: it was along these very streets that in 1804, the great american explorers lewis and clark gathered their pplies before setting out on their expedition of discovery. i didn't know that until two days ago. the world is watching. watch all the fake news back there. [cheers and applause] president trump: they are all watching. today more than two centuries ater, piners begin its own adventure gathering the startups and store fronts blazing new trails into totally unchartered of business and technology and
leading our nation into a future of limitless potential. that's what we have in this country. we have the debatest people. i love this country so much. [applause] president trump: our country was not treated properly for a long time. we are treating it with love and with this. got to treat it with this. and today, just as it's always been, main street is the heart of our economy, the soul of our economy and the birthplace of american dreams. but over the years, krim pling taxes and massive regulation and totally disastrous trade deals, oh, the trade deals, oh, i get a head ache about who made these trade deals one after another.
w.t.o., nafta, the wonderful deal with south korea that said it was going to produce 200,000 jobs. we lost 200,000 jobs. it turned some of our businesses main streets into empty ghost towns. we have a once in a lifetime opportunity to restore american prosperity and we claim america's great destiny and made tremendous progress far greater than i already thought. i will tell you this in a none bragging way, there has never been a 10-month president that has accomplished as much as we have accomplished, that i can tell you. [cheers and applause] today again, the stock market has reached another record all
time high. the unemployment rate nationwide is the lowest it's been in 17 years. and 13 states this year
have seen unemployment drop to the lowest levels in the history of their state. and i hate to tell you, but missouri happens to be one of them. [cheers and applause] president trump: we've created arly two million jobs, two mill onjobs, think of that. two million jobs since i won the election and since you won the election, i didn't win the election, you won the election. and we will create countless more if we can sustain the 3% growth rate we have achieved through the pass three-quarters. but we are going to do much better than that. we can hit four and hit three
and they were all saying forget it, forget it. it was 1.2 and doing terribly. it was flat and we were even. the stock market was go this way and now we are hitting numbers that nobody thought possible, certainly not in this time. and the numbers going up are going to be much better than anybody anticipated and going to ay that trump is the exact pposite of an ex acknowledge rator. [applause] president trump: they are going to say he ought to be a little more optimistic. a year and-a-half ago, he can't do that. now they're saying,
now that was quick. the commerce department announced this morning that our g.d.p., that's the big one in the third quarter grew even
faster than they reported previously. they made a mistake, they had it at 3%. did you ever think you would hear
that in less than a year. and now it comes in at 3.3%, which is the largest increase in many years. cheers and applause] president trump: amazing job. puerto rico has been a very tough situation because of the fact that it was in very, very bad shape before the storms ever hit. but they're doing well there and
it's healing and getting better and we are getting them power and all of the things they have to have, but a lot of brave people. we have great, great people and it's our number one resource, believe me. really great. [cheers and applause] president trump: in order to achieve this bright and glowing future, the senate must pass those tax cuts, bring main street roaring back and that's what is going to happen. this is all done without the tax cuts. and i'm not sure that people even believe the tax cuts. i want to see what happens. and the big day will be either tomorrow or the next day. i would say do it now. we're ready. i said to the republicans -- and these are good people. and i know they get hard, the senators, congressmen, the senators, they are all working hard. it's not so easy but we had an
incredible sessionied. i said what can we do the vote today. i said i don't want to wait until friday. billy, get me the vote. billy has already passed it. and then what happens, it passes and goes into this beautiful committee, i call it a pot and mix it up and stir it up and bring the best things out and you will have something that will be really, really special. [cheers and applause] president trump: really is. so right now, america's tax code is a total dysfunctional mess. the current system has cost our nation millions of american jobs, trillions and trillions of dollars and billions of
hours wasted on paperwork and compliance. it is riddled with loopholes
that lets some special interests, included in myself and this is not good for me.
me, i have some wealthy friends that are not so happy. i keep hearing schumer, this is for the wealthy. well, if it is, my friends don't know about it. it is great for companies because companies are going to bring back jobs and we are lowering the rates. but right now, we are bringing he rates down from 35%, with the highest industrialized nation in the world by far and we are bringing it all the way down to 20%. but that's good. [cheers and applause] president trump: that's good for everybody in the room whether you have a company or want a job. because we are going to bring back jobs. we have had a massive give-aways
and you have sign what's happened. as bad as our tax code is, we have toyota, we have big car companies coming back in building plants in michigan and other places, we have a lot of places coming back in and they see what is happening. our current code is a giant and really, it is, it is a self-inflicted economic wound. and has been that way
for so many years. all that will change and will change immediately if congress sends a tax cut and reform bill, the biggest tax cut in the history of our country. bigger than reagan, if they send it to my desk, i promise all of the people in this room, my friends, so many friends in this room, it's a great state, i promise you, i will sign it.
i will not veto that bill. [cheers and applause] president trump: there will be no veto. under the plan moving forward in the senate, a typical family of four earning $75,000 as an example will see their taxes go down by as much as $2,000. that's a lot. [applause] president trump: we are doing that not to help people but it helps our country. maybe you will spend some and make product back in our country again and going to be made here and going to be made elsewhere but going to be made here. we are opening up plants and opening up factories and we are going to be great to small business. wait until you see the final product and what you see what i call the mixer.
the beating heart of our plan is a tax cut for working families, that's what it is. [applause] president trump: we are going to make sure you make more of your hard earned money and make sure that you have a job that you want, you will have choice. in education, we now have choice. good word. you aren't -- you are going to have a choice of many jobs. people are moving back into our country. under our plan, the first 12,000 -free.e totally income-tax zero. [applause] president trump: married couple won't pay one dime of income tax on the first $24,000 of income. zero. our plan will significantly increase the child tax credit
and make it available to more middle-class families because the most single important investment that our nation can make is in our children. do you agree -- do you agree? you better agree. [applause] president trump: families will benefit from a new credit for other dependents like a child in college or an elderly loved one. we have our mothers, our fathers. you have your grandparents, you have people that are elderly that have done a fantastic job and grown old and want to help them. we are going to help you help them. [cheers and applause] president trump: we are going to eliminate tax breaks and loopholes taken advantage by the wealthy. who are they? i don't know. i think my accountants are going
crazy. that's ok. i'm president. i don't care. i don't care. [cheers and applause] president trump: some of my wealthy friends care. this is a higher calling, do we agree? as hillary said, what difference does it make? it made a big difference. [cheers and applause] president trump: made a big, big difference. we want a tax code that is simple and fair and that's for all americans. the plan that senators will be voting on this week, hopefully as soon as possible, closes the loopholes that corporations shift their loopholes and liminates deductions for c.e.o.'s. i'm driving up their stock.
they're making a fortune and go to a board and tell what a great job they are doing. and many of them, honestly, i don't like. some of these bankers, i don't like them and they are making a fortune and it's one of those things. steve knows a couple of them. saying what a great job they can do. we are making it easy for them. because we're giving them a great and strong economy and ecause we have cut regulations by far and that's the full terms nd that's not for 10 months.
president trump: and it allows bankers to lend. it allows bankers to lend. so many people came up to me and said we had a 20-year relationship and never had a default or bad loan and we go back to the bank and say we can't do business. even though they are better than the people that do qualify. it's incredible. we are back with the strong days of our baverages. and not the days of trouble where bankers can make loans and community bankers can make good loans. you saw what happened recently where the certain agency or bureau that was causing so much trouble to lenders. they could not lend.
they were going out of business. well, we are taking care of that. and yesterday you saw we won the lawsuit. so that will be taken care of automatically. got to get back to business. [applause] president trump: our focus is helping the folks the plumbers, the carp enters, the teachers, the truck triferse, the pipe fitters, the people that like me best. actually the rich people don't like me. you know what? i like that trade. but really the people that like me best are the workers. they're the people i understand the best and those are the people i worked during construction sites with. [applause] president trump: all of the people who give their best each and every day to take care of their family and the country that they love.
these are incredible people. they came out to vote for me and came out to vote for us. people who worked two jobs, three jobs, who hadn't voted in many years because they didn't have anybody to vote for. in tennessee, a great congressman, told me that early voting said, i tell you what, we went through four days of early voting. at that time, it was mr. trump, now it's mr. president. he said and if the other parts of the country are like what's happening in tennessee, people are coming from all over tennessee. they haven't voted in years and now they have trump shirts and got trump hats and trump pens and everything trump. and he said i never seen anything like it and i have been a politician for a lot of years. ,f it's anything like tennessee
it turned out to be one hell of a victory like tennessee. and turned out to be a lot like missouri, that i can tell you. we had a big one here. [cheers and applause] president trump: i promised josh that when he gets it going and he's got it in very good shape. everybody said it has to be josh. josh. josh. when you're ready, i have my to campaign oing and get you in. [cheers and applause] president trump: not enough for the middle class to keep getting by, we want to start getting them way ahead. we are
going to have them getting way ahead. under our plan, middle-class families will see their tax
income go down and average go up by around $4,000. and that's
because we are going to cut taxes on american businesses so they will compete for workers, they'll raise salaries and businesses are going to be happy and the workers are going to be happy and the country is going to be a happy place, although we will have very strong borders, though. please remember. we will have the wall. don't worry about it. we don't forget that wall. a lot of people said now that he got elected, is he going to build the wall? more so. democrats want people in our country and don't care where the hell they come from and have them pour in our country and want to raise their taxes and
don't want to take care of their military and all they are doing is obstructing. they may obstruct but we have gotten through
all the obstructing so far. we'll keep it going. today america has one of the least competitive tax rates on planet earth, 60%. 60% higher than the average in the developed world. so our taxes are 60% higher. everyrecent trip to asia, single one of the countries have slashed their corporate tax rates and slashed them dramatically. and it's very tough competition any way. but when their taxes are a lot lower, but it makes. that trip was a tremendous success. we bought back if $250 billion
in contracts. that's a good week and a half's work. boeing came back. so many of our companies came back and we're doing great. but at the same time. we are going to fix trade because trade is unfair. we are going to fix our trade unless anybody would like to continue with this horrible situation that we have. our plan gets america from the back of the pack and it will bring us back to number one where we were for years but where we haven't been for decades. we are going to be right back at number one. [cheers and applause] president trump: and we are going to work on trade but also going to work on military. when we defend nations that are very wealthy and do it for almost nothing.
why are we defending them. i won't mention names. we love them. they're wealthy. one of them has a cash flow that they said is unsustainable. how would you like to have an unsustain able cash flow? and we defend them. it's going to change. but they are going to treat us fairly and they are going to pay for their defense. does that make sense? [cheers and applause] and a lot of this for many, many years ago when we were a defeated country and they became strong and rich, what happened? why didn't anybody go in and negotiate? and when i was in asia, i spoke to a lot of the countries about it. and you know what this is? [laughter] president trump: that means they are getting away with murder and they have to start helping us
out, ok? i'll start bringing that up to some of our good friends. [applause] president trump: we are going to cut our tax rate to the number of 20% and create jobs and factories will be pouring into this country and already starting. a lot of people think it's going to happen. i'm not going to talk about it. we willville health care. as soon as we get the taxes, we will work on health care. we thought the votes and something happened, a little strange -- [laughter] president trump: some people said you failed with health care. what do you mean? we didn't fail. what happened, what happened is that obamacare took ar long time . 10 months, we had two runs at it
and coming closer, closer and now we have a plan that's going to be great but we're not talking about it until after taxes and then we will have done tax cuts, biggest in the history, health care, phenomenal health care. i know you don't want this welfare reform. does anybody want welfare reform? [cheers and applause] president trump: and infrastructure. but welfare reform. i see it and i talk to people. i know people that work three jobs and they live next to somebody who doesn't work at all. and the person who has no intention of working at all is doing better than the person that's working his and her ass off and it's not going to happen. not going to happen. [cheers and applause] oksident trump: philly, if i
in speaking for you? he said yes. you have a lot of friends out there, billy. we will cut taxes for the millions of small businesses that file as individuals. and that's going to come out of the hopper. it's going to be better and better. we are reducing the tax burdens and every single kind. as a candidate, i pledged to fight for american jobs. i think it's possibly the number one reason i got elected. and i
think we've got a lot better at this point. think of that two million jobs since the election, two million more jobs since the election. nobody expected that. excuse me, i didn't even expect that. [laughter] president trump: you cut those
regulations and give people spirit and incentive and when you have the highest ratings in terms of confidence that the country has had in many, many years, things happen. the tax cut will mean more companies moving to america, staying in america and hiring american workers. that's so important, right? [applause] president trump: small business groups across our nation, retailers, restaurants, manufacturers, grossers, contractors, support this plan. we have tremendous support for this plan because these massive ax cuts will be rocket fuel -- [laughter] president trump: rocket man, rocket fuel for the american economy. e is a sick puppy.
where is casandra. i met you back there. she and her mother terry, they own a jewelry store on main street right here in st. charles and make hand made jewelry. i would have taken it in my previous life. but now they don't like it. we're not allowed to take jewelry but make it right here in the hardland. she can keep growing her business and keep creating jobs and giving back to the community she loves and make her more and more successful. i assume you like that, good? randy schilling is also here. e is the founder of o.p.o.
that's an interesting name. o.p.o. startups and member of small businesses in the st. charles area. he is a mentor. he really meantors a lot of the businesses and is respected. and did a terrific job renovating the old post office on main street. something i know. did he do a good job, by the way? . . they say yes, randy. they say you did a good job, i know you did. randy knows firsthand how the tax burden is holding america's small businesses back and our tax care plan will unleash them to thrive like never before. he understand ours plan. which will provide relief from the horrible, crushing, unfair estate tax known to many as the death tax.
we want to make it easier for loving families to pass on their life's work to their children. be nice. be very nice. that's a tough one. the democrats fight that one, i think, harder than any other thing we're doing. they fight the death tax. they don't want it. they don't like it. they don't want it. it's one of those things. but that is one of the hardest hings. i have to be honest. these people, they are rich they love their children they want to pass on what they have without having to have the kids sell the property, mortgage half of it, but the biggest problem we have on that one, these democrats are being brutal. and you know, i call them obstructionist, they want to stop the estate tax, the death tax, from being rescinded. but we're going to try our best on that one. our economy will receive another
enormous boost as trillions of dollars in wealth that's parked overseas will be able to come back to our country. this is one that's interesting because for years, republicans and democrats agreed. you have apple and these great companies having billions and billions of dollars overseas. who doesn't want the money to come back? but to show you the lack of leadership this country had in the past, the republicans want it and the democrats want it, and nothing ever happened. you could have passed that one easy. in fact, we're just throwing it into this bill. i could have had a separate bill on that one, i think, don't you agree? i could have had a separate bill on that one and gotten it passed in record time. i figured i'd put it here because it is actually popular. it used to be $2.5 trillion. that's money you can't bring back. in it's prohibitive. both in complexity and thement of tax you have to pay. so nobody brings back in. $2.5 trillion.
but i've been saying for six years, i think now it's $4 trillion to $5 trillion. all that money is coming back into the united states. and is going to be invested in our country instead of sitting and helping others. e want our own help. [applause] sort of an easy one. last year, american multinational companies left more than 70% of their foreign period of times overseas because the current tax system penalizes them for bringing that money back home. they actually get penalized. our plan switches to a territorial tax system that encourages companies to return their profits to america right here to the united states where that money belongs going back to work for you. territorial. if we want america to thrive in the 21st century, then we must stop running from the
competition and instead we must start totally winning and winning and winning again. remember when i used to say, we're going to win so much, the people of missouri are going to go to your governor and say, governor, please go see the president, we can't stand winning so much. remember i used to say that? right? i used to say it and that's what's happening. that'sst what's happening. [applause] and then the governor will come to that beautiful, historic, oval office and say to me, mr. president, the people of missouri cannot stand all this winning. they don't want to win so much. they love the old way. where they had lousy job numbers, lousy economic numbers. they loved that. please, mr. president.
please, and i'll say, governor. i don't care what they say in missouri, we're going to keep winning and winning and winning. remember? i used to say that. but we are winning. we are winning again. we're winning a lot bigger than anyone ever thought possible for such a short period of time. for too long, our tax code has incentivized companies to leave our country in search of lower tax rates. it happens. many, many companies. they're going to ireland. they're going all over. they're going all over asia. but they're stopping because they now want to take advantage of what's happening and what we're about to pass, hopefully. my administration rejects the offshoring model. in other words, let's build a factory in another country. isn't that wonderful? that helps us a lot. fire everybody, let's build the product and send it in without
tax back into the united states. that model doesn't work for me. it never worked. it shouldn't have worked for any of our other past presidents, believe me. our new model is the american model. call it the trump model. where we build it here. as much as possible. we build it here. imply put, our tax plan is anti--offshoring and 100% orker, 100% pro-america. under the american model we're reducing burdens on our businesses as long as they do business in our country. ok. they do business here. we love mexico, it's a wonderful place. but i don't like when our car companies move to mexico, fire everybody, build the same car in mexico. send it through our borders with
no taxes new york nothing, and we buy the car. same price. we buy the car. in the meantime, what are what do we get out of it we get no tax and unemployment all over. that's stopping. so now the plans -- plants are starting to move back. now there's a price to pay when they do that little number on us. that's how we all succeed and we grow together. as one team, one people, as one american family. [applause] this week's vote can be the beginning of the next great chapter for the american worker. to summarize, our plan cuts taxes for the working and middle income families. it nearly doubles the amount of income tax at the rate of 0. it lowers tax rates. it expands the child tax credit. it provides relief from the estate tax, also known as the
death tax, it cuts small business taxes. it reduces the corporate rate from 35% down to 20% and it provides a one-time low tax rate to return corporate money parked overseas. trillions and trillions of dollars. this is the right plan, this is the right time. we have a moment in time, the republicans have the senate. the republicans have the house. the republicans have the white house. it's very unusual. very unusual. [applause] this is our chance to free our economy from our workers, from the terrible tax burdens. we have workers that are so burdened with taxes, we're freeing our workers from those terrible burdens. republicans in congress
campaigned on cutting taxes. we also campaigned on repeal and replace. it's going to happen. it's going to happen. t's going to happen. many democrats have promised tax cuts that don't mean anything. because they really want major tax increases. senator claire mccaskill. have you ever heard of her? [audience boos] president trump: she's doing you a tremendous disservice. she wants your taxes to go up, she's weak on crime, weak on borders, weak on the military. other than that, i think she's doing a fantastic job. but now comes the moment of truth. in the coming days, the american people will learn which
politicians are part of the swam and which want to drain the swamp. if you make your voices heard and call up your congressman and they've been terrific, call up your senators, thnd they have been totally terrific, most of them have been incredible. they really are. they're friends of mine. they've been incredible. but it doesn't take much. that's why we need more. we need to have a larger number. most of them have been incredible but call your senators. call your congressmen. because we have no chose. we have to act. we have to act. as a country. this isn't good for the republican party. this is good for the country. and that's ultimately what it's all about. [applause] so this week hopefully the senate can join the house and take that strong stand for middle class families and for business and for jobs and for competition and for bringing
money back. together, we will give the american people a big, beautiful, christmas present. [applause] and remember i was the one, when i was here last time, i said, you go to the department stores and you see happy new year and you see red and you see snow, you don't see merry christmas anymore. with trump as your president, we are going to be celebrating merry christmas again and it's going to be done with a big, beautiful tax cut. thank you everybody. god bless you. thank you. thank you, everybody. thank you very much. cheers and applause]
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