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  President Trump Remarks on Tax Cuts Jobs Act  CSPAN  June 29, 2018 12:20pm-12:58pm EDT

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thank you all for attending today. and in particular mr. rettig thank you for your commitment to public service and we commend you to the work on the past and the veteran affairs. we appreciate that very much. we appreciate all of the good questions that were provided today by the members. and other questions can be submitted for the record. please know that should you serve the agency and the american people well, mr. rettig, you will have no greater friend than this committee. however, we hold a responsibility to the american people and your actions will be overseen and reviewed. we hope you will count on us for help. and we will be the greatest watchdog you and the agency have. i ask any member who wishes to submit questions do so by the close of business on tuesday, july 3rd. with that said, the hearing is adjourned. thank you, mr. rettig for your attendance. [ inaudible conversations ]. >> thank you, senator. [ inaudible conversations ]
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[ applause ] [ inaudible conversations ] [ inaudible conversations ] [ inaudible conversations ]. >> and live here on c-span2, we're at the white house. president trump going to be
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marking the sixth month anniversary of the federal tax cut plan. members of his cabinet here and his family. other guests gathered in the east room. again, those tax cuts passed by republicans last year without democratic support. ♪ music . >> ladies and gentlemen, the president of the united states. ♪ music . [ cheers and applause ]. >> thank you very much,
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everybody. [ applause ] >> thank you. [ cheers and applause ]. >> thank you. wow. [ cheers and applause ]. >> thank you very much, everybody. the economy is, indeed, doing well. [ cheers and applause ]. >> six months ago, we unleashed an economic miracle by signing the biggest tax cuts and
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reforms. i have to add the word reform. very important word. but the tax cuts is what got us there. and that's what's really doing it. the biggest tax cuts in american history. now it's my great honor to welcome you back to the white house to celebrate six months of new jobs, bigger paychecks and keeping more of your hard earned money where it belongs. in your pocket or wherever else you want to spend it. [ cheers and applause ]. >> before going any further, i'd like to address the horrific shooting that took place yesterday at capital gazette newsroom in annapolis, maryland. this attack shocked the conscience of our nation and filled our hearts with grief.
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journalis journalists, like all americans, should be free from the fear of being violently attacked while doing their job. to the families of the victims, there are no words to express our sorrow for your loss. horrible, horrible event. horrible thing happened. when you're suffering, we pledge our eternal support. the suffering is so great. i've seen some of the people. so great. my government will not rest until we have done everything in our power to reduce violent crime and to protect innocent life. we will not ever leave your side. so our warmest, best wishes and regrets. horrific, horrible thing. thank you. [ applause ] >> for today's event, we're
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honored to be joined by our great vice president, mike pence. stand up. [ cheers and applause ]
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. >> thanks also to a really great friend of mine. this is the governor phil brian. and all of the other state, local, federal officials that have done so much to help us with this incredible tax cut and job plan. you see how it's working. [ applause ] >> have i to say, i think that's -- i have to say, that's the cutting of regulation. i think the cutting of regulation is just as big. i also want to welcome juanita
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dugan and michael veleman for helping us. your support has been incredible in getting this very difficult legislation to the finish line and passed. please stand up. stand up. what a team. great team. great team. thank you very much. and there are so many others in the room. you're never going to speak to me again. we're not going to give anymore names. let's get down to business. other than these names, who are the important ones. okay. we're also especially proud of the republican members of congress who fought -- i mean, they fought with us. we didn't get a democrat vote. we didn't get one vote for these massive tax cuts. so i want to thank roger wicker, kevin grady.
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what a warrior. kevin. kevin, come on. kevin, stand up. mike kelly my friend and jason smith, our great republican members of congress worked night and day to score this landmark victory. this really was a landmark victory for their constituents. but much more importantlily for the country. unfortunately every single democrat in the house and senate. that's right, every single one voted against lower taxes for the hard working americans. and you see what's happened. it's turned out to be something very special. the tax cuts and jobs act slashed income taxes all across the board. we nearly doubled the standard deduction and did double the child tax credit which ivanka wanted very much. i will tell you. stand up, ivanka. stand up.
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[ applause ] >> she had a bigger hand than the politicians. that means you're all in trouble. a typical family of four earning $75,000 will see an income tax cut of more than $2,000. and in some cases, more. slashing their tax bill in half. we cut taxes for businesses of all sizes to make this the best place on earth to start a business to invest. we have billions and billions of dollars in additional revenue coming in. we lowered the corporate tax rate so the american worker finally has a level playing field. we allowed companies to deduct every single penny of investment in new equipment. and strong expensing. it's the biggest secret in the plan. i think it will go down as maybe
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the most important element. it's one year expensing. nobody thought we would ever see that. so incredible for starting up a business or running a business. we greatly reduced the burden of the unfair mistake acts commonly known as the death tax. that's the big thing. and most farms and small businesses are paying death tax. we created more jobs in communities. we opened up. [ applause ] >> they said no president could get it for many years. i wasn't going to do it because i was angry at someone. i said i'm not going to do it. and then when i heard that ronald reagan couldn't do it,
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nobody could do it, they've been trying for 50 years. i said, oh, let's do that immediately. it's like a challenge. we also repealed in our tax cut. we repealed the most, i guess you could say, on purpounpopula i've seen in a long time in legislation. the individual mandate on obama care. [ applause ] >> the individual mandate. how about that one. that's not a very good one. that's where you have the privilege of paying a fortune in order to not pay to have bad health care. think of that. so, in other words, you pay a lot of money not to have health care. so it's not working too good. we got rid of it. that's a big thing. we got no credit, but that's
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okay. that's okay. [ applause ] >> i bet some people come up to me. they say they like that as much as the tax cuts. it was a big thing. and obama care is just about over. we have come up with so many plans. and we have a plan coming out, an additional plan, secretary azar coming out in a very short period of time which is going to be -- i think it's going to perhaps match your plan from department of labor. it's going to be something very special. six months after our tax cuts, more than 6 million workers have received bonuses, pay raises and retirement account contributions. [ applause ] >> and one of the beautiful elements of what i do, i love to see happy faces, but i'll stand online sometimes before or after a speech and i'll be with a lot of people. but want pictures, for whatever reason they want a picture of
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me. and i stand with the police a lot. and i'll see a policeman. and in particular one in new york city. and he said, sir, i want to thank you. you've made me a hero to my wife and to my family. i've always been a horrible investor. but this year my 401k, think of it, is up like 46% i think he said. my wife thinks i'm a genius. she thinks i'm the greatest investor for the first time in my life. [ applause ] >> and, you know, in terms of value or worth, we've created $7 trillion worth of value for our country. and people don't know this. we're double the size. almost double the size. because we hear china. and china is terrific. and our relationship is terrific. we're straightening out the balance. and i think most people want to see that. but we're the largest economy in the world by far. and as you know, we've increased
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a lot over the last one and a half years. but we're almost double the size of china and far bigger than anybody else. and we're going up very rapidly. and it's going to continue to go up very rapidly. [ applause ] >> biggest by far. think of that. did you know that? the biggest economy in the world by far. that's the only way to do it, right? it's very good. and they helped us. a little bit, right. a little bit. every little bit counts. so the share of small businesses raising benefits and pay has just set a new all-time record. and manufacturing optimism to me is so important because it's all about optimism is the highest ever recorded. this is a --. [ applause ] >> -- this is a statistic that's
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been around for a long time. highest ever recorded. hundreds of billions of dollars are coming back from overseas. over $300 billion was just repate re yat -- repatriated into our country. think about that. money we never would have seen. trillions more dollars are on their way back. and as you know, apple announced they're going to spend $350 billion, not million, i would have been happy with that too, but $350 billion is being brought back. i guess the total amount they're bringing back is approximately 230 billion. and they're putting up the rest the old fashion way. they're bringing this money back. it would never have come back. they're going to build an incredible campus. and lots of other things. we just left wisconsin. and what fox gun is building up in wisconsin is literally, and i said it, the 8th wonder of the world.
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it's incredible what they're doing. 15,000 jobs. it's going to cost $15 billion. it is something that is so incredible, you have to go see it. nobody would believe what's happening. more than 100 utility companies have lowered price as a direct result of our business tax cuts saving americans $3 billion on their utility bills. utility bills are going down. unemployment claims are at a 44 year low. that's a good one. [ applause ] >> 44 years. something i am so proud of. i love it. unemployment for african-americans is at the lowest level in the history of our country. [ applause ] >> i'm looking at kevin. that was a good job.
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you were right about that, kevin. huh? that is something. we're all right. everybody in this room was right. and i have to say unemployment for hispanic americans, likewise, is at the lowest point in the history of our country. unemployment --. [ cheers and applause ] >> unemployment for women, now if you listened to my speech a few weeks ago, you would have heard me say it's the lowest in 24 years. now i'm saying it's the lowest 65 years and soon we'll be the lowest in history. [ applause ] >> big difference. 21 years, 65 years. hopefully in a week or two it will be history. we're close to history. 65 years is a long time. i'm also very proud to say that unemployment for the disabled americans has reached record lows giving these incredible americans the chance to realize their unlimited potential. and that's what it is.
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unlimited potential. [ cheers and applause ] >> many former inmates are also getting a second chance at life. we are keeping our promise to buy american and hire american. and what's happening is our economy is so good, our unemployment is so low. and our employment is so high. maybe that's an even nicer way of saying it. and people that want to get a second chance, inmates, people coming out of jail where the stigma was so great, people weren't hiring. businesses weren't hiring. they're hiring them now in record numbers. and, do you know what, these businesses are saying they are fantastic. they're set. and as one gentleman in particular they hired ten inmates. never did it before. and he said i wouldn't say he said all of them. but he said seven of them. so it was not a bad percentage. i think that's a better percentage than we have.
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he said seven of them are as good as he's ever had, and he's going to do a lot more of it. so there's nothing like a great economy to solve that problem. jared, right? and chris. thank you very much, chris. [ applause ] >> but this is all because we're one country. and really one family. and we salute one great and beautiful american flag. we love that flag! [ cheers and applause ] >> and at last, our country finally has a tax system that is pro-jobs, pro-workers, pro-family and pro-american. [ cheers and applause ] >> so one incredible citizen who has benefitted from our tax cuts and job act is lesonya hill. i love that name, lesonya.
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if i have another daughter, i think i'm going to name her lesonya. i like that name. of jacksonville, florida. great place. i know it well. lesonya is the director at customer care at crowley marine. following the tax cuts and jobs, crowley was able to pay employees like lesonya a big tax cut bonus. they took a lot of money and they gave it around to the employees. that bonus will help educate her two sons cameron and christian. [ applause ] >> pretty good, right? . [ applause ] >> pretty good. so we're so happy for your family. and i know your sons are going to make you very proud. they're great young men. and, lesonya, please would you say a few words.
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[ applause ] >> thank you, mr. president. this is an honor to be here today. as you said, crowley maritime was able to benefit from the tax reform by paying employees bonuses. and in return, my family, we were able to invest in hour children's education. [ applause ] >> my son, cameron, he will be entering into his senior year at moore house college in atlanta, georgia. [ applause ] >> and my youngest, christian hill, he will be entering into his freshman year at savannah state, both in the fall.
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[ applause ] >> so because of this, you know, maritime is a great company. i'm very honored to work for a great company and for the company to benefit from such a great tax opportunity in which they were able to give back to the employees. and so i want to thank not only mr. president for allowing us the opportunity to tell our story, but also crowley as a company i've been with so long throughout my career. so thank you again. >> good job.
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[ applause ] >> by the way, she got the biggest, by far, including you, ivanka. and including all of my political geniuses out here. great job. it's like you're a professional speaker. very good. have you done that before? >> i have not. >> you have not. it's called potential. [ laughing ] >> thank you very much. beautiful. beautiful family. >> thank you. >> another american who has used his tax cut to give back to others is guy berkabile. president of guy chemical in summer set, pennsylvania. the great state of pennsylvania. incredible place. guy increased bonus, raised salaries and purchased new equipment. guy has also hired 30 new employees to help meet customer demand, which is actually booming right now. the best he's ever had. and here with guy are two of his tremendous employees, lee and deist and michele krulig.
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we want to ask guy maybe if you could come up and say a few words about the tax cuts and how it's affected your company. and i assume your people that work for you are really happy. please. >> thank you. [ applause ] >> yes. president trump and the members of congress who have voted for this tax bill, i can't tell you how much it means to my company and my employees. when i founded my company in 1995, i mortgaged my house seven times in order to pay for the growth of the company over the next 10, 15 years before the company finally got large enough that it could stand on its own. the money that we are saving from the corporate tax cuts i have reinvested back into our business and into our employees. we recently just built an addition on to our manufacturing facility in somerset, pennsylvania.
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this addition includes new equipment, a new compounding room and a new lab for research and development that is five times larger than our old lab. [ applause ] >> this investment in our company has led to a 35% increase in the sales over the first quarter of 2018 in addition to the 30 new jobs that we created this year so far. [ applause ] >> thank you. so with the tax cut money, i've been increasing salaries and we have also increased bonuses to our employees. i have some of my employees that have come down here sitting out here in the fourth row. and i have two right here. michele trulek, her son also works for us stew. michele is one of our line leaders. she is using the additional
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money from her increased bonus to fix her car. i take it so she has a reliable way to work every day. [ laughing ] >> and her and her husband are also taking a vacation, a second honeymoon to celebrate their 25th wedding anniversary this year. [ applause ] >> and lee deist, he's a navy veteran. [ applause ] >> we're proud of our servicemen back home. he is our head of maintenance. he's the guy that keeps my plant running. he and his wife have two young daughters under the age of 4. so he's using his additional money from his bonus to help
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offset his expenses for child care, and they're also taking their first vacation in five years. president trump, i'd like to thank you very much for fighting for american businesses and our workers who keep our factories running. [ applause ] >> thank you. that's a good combination. i want to tell you. a lot of talent. i just want everybody to keep up
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the great work. because common sense is being restored in washington again. because hard work and americans are in charge of their government, once again. washington tried to change us. but that's not going to happen. instead we're changing washington and we're changing it quickly and for the better. [ applause ] >> that's why our economy is booming. that's why our families are thriving. that's why our businesses are growing. and that is why america is winning like never, ever before. we're setting records every day. these are victories and they're your victories. and now what we're doing is we're straightening out our trade. our trade has been a disaster. we were being taken advantage of as a country by many, many countries. friends and enemies and those in between.
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and sometimes our friends in terms of trade were treating us worse than the enemies. and i want to just tell you that's being taken care of very well and very beautifully. our steel industry is coming back. never have they seen anything like what's happened over the last four months with steel. they were dumping steel. dumping. all over our land, they were dumping steel. and we were losing our steel business. united states steel, the head called me up two days ago. he said it's the most incredible thing we've ever seen. we haven't expanded in 30 years. we haven't done anything remotely like expansion. and we're now expanding and renovating areas of plants that haven't been used in forever. you remember u.s. steel was massive. they have plants that went the mile and a half long. and they were using little corners of plants. they said this has not happened for decades. it's back. we were in south carolina the other night. and georgetown steel, georgetown
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is a wonderful company. couldn't make it. they closed for years ago. they announced as i literally was getting off the plane, they announced that they're opening their steel mills. 600 people employed. what it means is it means change. we can't lose the steel industry. but do you know what else it means? billions of dollars will come into our treasury. nobody talks about that. billions and billions of dollars. but what's happening with steel, aluminum, what's happening with other industries where we're working to revive them. believe it or not, washing machines. they were dumping washing machines and they weren't good machines all over the country. and we put a big tariff on a certain country for doing it. and now we have these washing machine plants that were closed that opened and they're
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thriving. [ applause ] >> 32 plants. it's a new industry. so 32 plants. two were open. the rest have gone out of business. and those two were in bad shape. now they're doing great. and they're looking at 10, 11 and even 12 reopenings of solar plants all over the country. and these are really great. so the level of quality. just to finish, many companies are calling saying let's negotiate. they were never doing that. they're saying let's negotiate, please. please we want to negotiate. they weren't dpoioing that befo. i'm not sure if your past representatives knew the difference. let me tell you they're calling and they want to negotiate and all we want is fairness. we're going to be the smart country again. not the stupid country again that was taken advantage of.
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cl [ applause . [ applause ] >> and you made this possible. you all truly are making america great again. a slogan that i'm proud of. a slogan that seemed to work. i'll tell you why. it was very special and it's so accurate. even more so than america first. america first is very threatening to others. we don't want to be threatening. but make america great again. that's what's happening. we're bringing back our pride. we're bringing back our jobs. we're bringing back our wealth. and for the citizens of this great land, we're bringing back our beautiful american dreams. we have dreams. you guys have dreams, i'll bet. right? big ones. because now you're on a level playing field. now you're on a level, beautiful playing field.
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great futures. i want to say god bless you all. very, very special people. thank you for all of the help. our country is doing so well. possibly as well as it's ever done. i don't think it's ever done like this in terms of the economy. we have -- we're rebuilding our military. $700 billion we got approved. and $716 billion for the following year. so we'll have the strongest, best, most modern military that we've ever had relatively speaking. and we need it. [ applause ] >> and we hope we never have to use it. but the stronger it gets, the less likely it is that we'll ever have to use it. so we're going to have something very special. i want to thank a couple of the generals. a couple great generals in the back. these are tough cookies. we have the best in the world. we have the best military in the world. but now we're going to have -- it's equipped with the finest. and remember what else that means. that means jobs. because we build it here. when we build those beautiful
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planes from lockheed and drummons. jobs mean nothing compared to having the right. that's in one case. this is probably the only case where the jobs aren't as important. we have to get the military tang care of. but jobs are -- taken care of. but jobs are a secondary benefit, and we have jobs all over the country. so i just want to thank everybody for being here. it's a very special time for the country. very special time for you. god bless you all. thank you very much. [ cheers and applause ] >> fantastic.
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[ applause ] [ cheers and applause ] [ inaudible conversations ] [ inaudible conversations ] and
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tonight on c-span, supreme court chief justice john roberts sitting down for an interview at a federal judicial conference in sulfur springs, west virginia. we'll have that tonight on 8:00 p.m. eastern over on chris tanaka span. you can -- c-span. you can also watch any time online at c-span.org or on the c-span radio app. syndicated columnist mona charan talks about her book. >> we send such confusing messages to young people. and so young women, you know, they are -- i don't -- i don't envy them. so this was a story i put in the book about a number of women athletes who have posed topless or semi topless for sports illustrated. and one of them i quoted who
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said, you know, i want -- i'm proud of my body and i want to help young women who might have body image issues. that is a crock. women should be dignified. they should remember that when you disrobe, it's very hard for people to take you seriously. a man looking at a picture of a topless woman is not going to say, oh, look at that fantastic athlete. isn't it wonderful that she doesn't have any problems with body image. no. he's going to think about sex. and he's not going to think of her in a respectful way either. that's why i said, you know, angela merkel who is the chancellor of germany would not take off her blouse to prove she doesn't have body image issues. she wants to be respected. and if women want to be respected, they have to behave in a way that will elicit that. >> sunday night at 8:00