White House Tax Reform Event CSPAN December 20, 2017 3:01pm-3:38pm EST
♪ ♪ president trump: these are the people right behind me, they worked so hard, so long. it has been an amazing experience, i have to tell you. hasn't been done in 34 years, but actually, hasn't been done because we broke every record. it's the largest -- i always say the most massive -- but the largest tax cut in our history, tax reform and tax cuts. really something special. this just came out, two minutes ago, they handed it to me. at&t plans to increase $1
billion in spending and special bonuses to 100,000 u.s. employees and that's because of what we did. so that's pretty good. that's pretty good. [cheers and applause] president trump: i have a whole list of accomplishments that the group behind me have done in terms of this administration and this congress. but you have heard it before, records all over the place. and that will continue. and then some, because of what we did. but $3.2 trillion think of it, in tax cuts for american families including doubling the standard deduction and doubling the child tax credit. the typical family of four earning $75,000 will see an income tax cut of $2,000. they will have $,000 and that will be less than the average. that's in my opinion.
you will much more than that. the great farmers and the great small business owners that were forced to sell their businesses at bargain basement numbers. we have provided for the most part, estate taxes wiped out and keep their farms in the family. that's a big factor to me, very big. [applause] president trump: companies are going to be coming back and i campaigned on the fact that we are not going to lose our companies anymore but going to stay in our country and stay in our country. and you have been seeing what is happening at this prospect. but they have tremendous enthusiasm and we have companies pouring back into our country and that means jobs and that means the formation of young, beautiful, new companies. that will be very important. the pass-throughs and the small businesses are going to be big beneficiaries and bring $4
trillion back into this country, money that was frozen overseas in parts of the world and some of us don't even like us. they aren't going to have the money long. [applause] president trump: it's very simple, when you think you haven't heard this expression but, we are making america great again. you haven't heard that, have you? [cheers and applause] president trump: i want to have them get up and get the glamour and glory and have a few of them and they'll speak for a little while. the shorter the better so we can get everybody up, right? but i want to thank mitch mcconnell. what a job. what a job. [applause] president trump: they are going to say a few words. but paul ryan and mitch was a little team. we got together and we would work very hard, didn't we?
it was a lot of fun. it is a lot of fun when you win. if you work hard and lose, that is not acceptable. but going to name a few names and some of them will come up. but people i saw so much over the last month and the last year. we haven't even been a year and we did the largest tax cut in our history. i hate to say this, but we essentially repealed obamacare because we got rid of the individual mandate, which was terrible. [cheers and applause] president trump: that was the primary source of funding of obamacare. congratulations. where's dan? >> right behind you. >> don. don. where's dan? >> he's not here. president trump: between dan and don and lisa, you have done a very good job.
al friend of mine called up and said you didn't get anwr. we have been trying to get it passed and tried it with the bushes and everybody and never ot it, but we got anwr in this bill. we have mandates and the tax cuts and the reform. when you add up the size of this bill, it is great. lisa, thank you very much. lisa murkowski. john cornyn. the great chairman, orrin hatch. great job, orin. he is a special person. tim scott is so incredible. he is going to say a few words. where is tim? he is younger than i am. [laughter] president trump: i have it mostly member rised. but tim scott has been great.
john thune. where's john. john. john.job, rob portman, a student of the tax world. toomey,o thank -- i pat we rode together in pennsylvania. but pat was pat. pat, great job. he knows his business. susan collins, we want to thank. susan is around someplace. thank you susan. all friends. i mean i look at these people, it's like we are warriors together. kristi noem in the house and die an black, our great speaker, paul ryan. and he is a great speaker. [cheers and applause] president trump: great job. kevin mccarthy. kevin. what a job. we had fun.
steve scalise, he is braver than all of us. where is he? [cheers and applause] president trump: oh, boy, i don't know, he had a rougher year than most of us, but hell of a way to lose weight, steve. not a good way. great job. kevin brady. [cheers and applause] president trump: kevin brady. so maybe what i'll do -- and by the way, i mentioned at&t but many companies have come forward saying they are happy and will be doing similar announcements. we are getting rid of all the knots and the ties. you are going to see and see what happens. and what does it mean? it means jobs, jobs, jobs. so it's going to be a very special period of time. we are in a very special period of time and going to be even more so.
i thank everybody behind me. we'll go with mitch and paul and a few of the folks
have a few words and have a little fun. mitch, how about you starting. [applause] mr. mitchell: let me just say, mr. president, you made the case for the tax bill, but this has been a year of extraordinary accomplishment for the trump administration. [applause] mr. mitchell: we have seen it right of generation in the supreme court. thanks to your nominees, we put 12 circuit court judges in place, the most since the circuit court system was established in 1891. you hold the record. you have ended the overregulation of the american economy, and that coupled with what we did last night and what
the house finished this morning means america is going to start growing again. thank you, mr. president, for all you're
doing. [applause] the speaker: what this represents is a promise that each and every one of us made to the american people last year is a promise that is kept today. [applause] the speaker: something this big, something this generational, something this profound could not have been done without exquisite presidential leadership. mr. president, thank you for getting us over the finish line and thank you for getting us where we are. [applause] the speaker: i just want to say this is a team effort from everybody.
thank gary cohn and steve mnuchin from the president's team to get us here. [applause] the speaker: i thank mitch mcconnell and these two chairmen, orrin hatch and kevin brady. thanks for your leadership on this. [applause] the speaker: it is really simple. the message to the hard-working message to the american taxpayer is your relief is on its way. the message to the families who have been struggling paycheck to paycheck, your paychecks are going up. this is the kind of relief that americans deserve. this is the kind of tax reform and tax cuts that gets our economy growing to reach its potential. this gets us better wages, bigger paychecks, a simpler tax system. this gets the american economy competitive in the global economy. this is one of the most
important things we could do for all of the people we represent. this is the -- generational. and we are so excited that we are going to launch next year this fantastic tax reform so that the american people can see how we can truly reach our economic growth and our economic potential and if it weren't for all the leadership of the men and women up here this would not have been made impossible. i thank the american people for putting their trust in us and giving
us this chance and this ability to make this moment possible. thank you very much. [applause] president trump: a manning who has been working very, very hard for a long period of time and last night was the culmination and i don't know if we will have bigger moments, but we hope to, but we are going to try, a special guy and good friend of
mine, vice president mike pence. [applause] vice-president pence: thank you, mr. president. thank you for those kind words and thank you for your leadership. thank you for your boundless faith in the american people. and thank you for keeping your promise to see this congress deliver the largest tax cut in american history before christmas of this year. merry christmas, america. [applause] vice-president pence: to members of our cabinet, to leader mcconnell and speaker ryan and all these members of congress, thank you. thank you for not only being here today for this special moment but thank you for your leadership and support throughout this year. i truly do believe, mr. president, that this will be remembered as a pivotal moment in the life of our nation. a day when the congress answered your call and made history. but honestly, i would say to the
american people, president trump has been making history sings the first day of this -- since the first day of this administration. we have been rebuilding our military, standing with our veterans and last week, president trump signed one of the largest investments in our national defense. we have been defending our borders, illegal crossings on our southern border are down more than 50%. and president trump has been restoring american credibility on the world stage standing with our allies and standing up to our enemy. as the president reflected today, our nato allies are paying more, north korea is more isolated. this president has put iran on notice and put afghanistan on the path to victory. and thanks to the leadership of this commander in chief and isis is on the run, their capital has fallen and caliphate has
crumbled across syria and iraq. [applause] vice-president pence: but what brings us here today is that president trump also knows that american strength starts with a growing american economy. and from the first day of this administration, this president championed free and fair trade, he rolled back federal red tape at record levels, we unleashed american energy. and today, you fulfilled the promise to millions of americans struggling in this economy, to cut taxes across the board for working families and businesses large and small. in august, the president laid out his vision for a tax cut that would be a middle-class miracle and that's exactly what the congress passed today. [applause] vice-president pence: this tax code will put more money in the pockets of the american people and make our tax code more easy and easier to understand, more
competitive to create good-paying jobs and raise wages for hard-working americans. i serve with him every day. president trump is a man of his word and man of action. and with the strong support of these members of congress, president donald trump delivered a great victory for the american people. [applause] vice-president pence: we made history today. but as the president said when we gathered this morning, a few of us with a few less hours sleep than usual, we are just getting started and i can assure you this president and the entire administration will not relent until the forgotten men and women of america are forgotten no more. so thank you, mr. president. thank you for your leadership. thank you for your love of this country and the people of this country. and i know in my heart with the strong continued support of the
members of congress who are gathered on these steps and with god's help, you will make america great again. [applause] president trump: thank you, mike. a friend of mine, a very, very special man, tim cannot. tim, i would like you to say a few words. he would come in and solve some problems that we weren't looking too good a couple of times. but tim was a tremendous help. thank you, tim. [applause] senator scott: mr. president, during one of those conversations that we had, we lked about ways to improve communities in this country. 52 million americans living in distressed communities and legislation that could move those communities forward. and you said yes.
and as a part of this tax reform package the investing and opportunity act has been included, which will bring trillions of communities -- dollars into communities because of your willingness to listen. [applause] senator scott: the president said i have 45 more minutes. i will get to my -- [laughter] senator scott: he didn't say that. let me just say to those americans who are watching this process, this is not about washington. not about the left, but about the right. it's about single-parent moms who are looking for a reason to be hopeful in 2018. this tax reform plan delivers
or the average single mother a 70% tax cut. for the average family who's working paycheck to paycheck, looking for ways to be hopeful about their future and have an extra night for dinner out at a restaurant. this tax reform package cuts their taxes by nearly 60%. and because of folks like marco rubio and ivanka and think about folks with kids in the household, this plan doubles the child tax credit and makes about 70% of it refundable. this is a plan that we can be proud of. because it speaks to the heart of every day americans. [applause] president trump: diane black,
come on up. [cheers and applause] mrs. black: thank you, mr. president and i thank all of the folks who are standing behind me because it has been a team effort. when we talked about doing tax reform and the tax reform and jobs cuts act, that is what the american people are going to benefit by. and as tim has just said, it is the average american. that's the reason why we did this tax reform. we looked at those right in the middle, those families that need the assistance and help and relief to be able to live their lives the way they are promised. it is an honor to stand here with the president of the united states, the vice president of the united states who have been an integral part in making sure this happens. i thank kevin brady, who i know hours and hours and hours worked hard to make this happen and what was really a short period of time. and some of the folks that are being left out right now and i
know we have thanked them before but thank them publicly and that is all of the staff that has worked so hard in both the house and the senate to make this happen. [applause] mrs. black: now we can say merry christmas to the american people because we are giving them a huge gift for christmas. a break in these taxes and an opportunity for our jobs to grow and give them a bigger paycheck and so i want to say thank you, mr. president. thank you president trump, for allowing us to have us as our president and to make america great again. [applause] president trump: we can say merry christmas again. people are saying merry christmas again. i want to ask lisa murkowski and
dan sullivan to come up and don young. >> mr. president, i don't know if you recognize this, is a very historic day and this is the beginning of winter sols cities. it is the shortest day and darkest day. for us in alaska, we had pretty dark days recently. but with passage of this tax bill and with passage finally almost 40 years later to open up the 1002 area, this is a bright day for alaska. this is a bright day for america. and we thank you for that. we thank you for that. think about it, 31 years we have
been working on tax reform. 38 years now to open up and war. -- anwar. this has been a multi generational fight. and those who came here to be for the vote here tonight and today. [applause] >> to those who live there, to those who raise their families there and to those who are looking to live for generations know that our promise to you today is a bright future, one where we care for our environment and we care for our people and we also care for our country in providing a resource that is needed not only by the united states, by the people of alaska, but by our friends and allies. this, mr. president is what
energy dominance is all about. [applause] >> mr. president, i thank you and your administration and secretary zinke. this administration has come in and recognized this incredible, incredible resource that we have in our nation. senator sullivan: developing our energy is good for jobs, energy security, good for manufacturing, it's good for the environment, because we have the highest standards in the world and it's very, very good for our foreign policy and national security. mr. president, sir, you released your national security strategy just a couple of days ago and in there, you talked about the economy, which is what this tax bill is all about, but you talked about energy dominance. and i want to thank you and on behalf of the people of alaska and americans because it's the
right policy and we are finally, finally doing it. thank you, sir. [applause] mr. young: thank you, mr. president. i thank all these guys standing behind me, these ladies, the people who helped me do this. this is 37 years i tried to get this. appearance overcomes intelligence any day of the year. [laughter] mr. young: i thank the president, i thank you mr. president and my two senators. this bill does what's right for this nation and great land. hank you, mr. president. [cheers and applause] president trump: he's a pretty popular guy. pretty good.
i want to ask orrin hatch, a special friend of mine. someone who spoke really well of me when it wasn't exactly the easiest thing to do. he was just always in there, always fighting for all of us and did a fantastic job for all of us. orin, say a few words, please. senator hatch: mr. president, i have to say you are link up to everything i thought you would. you are one of a leader and all benefiting from it. this bill couldn't have passed without you or the delegation from alaska and the house and the senate, paul ryan and mitch mcconnell and the other leaders as well. we are making headway. this is just the beginning. if you think about it, this president hasn't even been in office for a year and look at
all the things he has been able to get done. i hope we get behind him every way we can and get this country turned around in ways that will benefit the whole world and our people and bring us to a realization of how really great america is and the rest of the world depends on us. i love this country. i came from very humble roots. and i have to say that this is one of the great privileges of my life to stand here on the white house lawn with the president of the united states who i love and appreciate so much and with these wonderful colleagues and cabinet members who stand behind us. and to see all of you and realize that you care, too. all i can say is god loves this
country. we all know it. we wouldn't be here without him. and we love all of you. and we are going to keep fighting. and we are going to make the greatest presidency we have seen not only in generations but maybe ever. god bless all of you. [applause] president trump: paul ryan just said how good was that? another man who has worked inside out and backwards. kevin brady. cheers and applause] mr. brady: thank you. ok guys. thank you, mr. president. this is a historic day. it's an exciting day.
and i knew i was going to be here with you to mark this momentous occasion. so i wore any houston astros today because they are still the champions of the world series. i figured today you would give me some slack on that. look, this is a historic day in so many ways. and it didn't happen just by itself. people often ask, when did you know or when did you know tax reform could be achieved in america for the first time in 31 years. my answer is always the same, november 8, when president trump, you were elected president of the united states. that's when i knew it was real. [applause] mr. brady: when you put together the great ideas on tax reform from inside and outside congress and i see many of you here today with us, remarkable leadership and courage from the men and
women behind me in the senate and especially my colleagues in the house, when you put together remarkable leadership in the house and the senate, of the work that was done in the white house, gary and steve, vice president pence, and mr. president, your willingness to make this your commitment to go across the country and save the table with us and on the phone with us to get this done, but for your leadership, we would not be here today. thank you so much. [applause] mr. brady: let me finish speaking directly to the american people. there are three dates you need to put on your calendar. the first is new year's day, because our country will have a new tax code for a new era for american prosperity new year's day. [applause] mr. brady: in february, look to your paycheck, hard-working
americans will see the result of hard work of this president and this congress to make this tax reform possible. it will show in your paycheck. and then april 15, that hated day -- [laughter] braise mr. brady: this april 15 will be the last time you ever file your taxes under this horrible broken tax code, because you'll have a new one for the future of your family and your small business. [applause] mr. brady: this is a great day for our country, great day for our economy and great day for america. thank you, mr. president. [applause] president trump: thank you for a fantastic job. and another guy who is with us ll the way way, whenever i called, he was there. kevin mccarthy.
[cheers and applause] mr. mccarthy: to the president and vice president, during that campaign, you listened to voices no one else was listening to. you listened to those who were trying to get a pay razor that parent that was fighting for their children or that person who always dreamed of being an entrepreneur and creating a small business, like you did, mr. president. and you know what? for all those people, you heard them. we would not be standing here today if it wasn't for you. doesn't matter if you were overseas fighting for america. so many people back here got your phone call fighting for tax reform. this is a big day for america. this is america's comeback. [applause]
come february, check your check. because that will be the pay raise of the vote for donald trump. that will be the beginning of the next century, america's century. thank you and god bless. [applause] president trump: so i just want to conclude by saying this will indeed be a very big day when people look back at our country, a whole different attitude, a whole different way. and i really want to end by looking back and thanking all of those people standing behind me that worked for years. this was the culmination of a few months' work, but they have been working on getting this done, whether it's mitch, paul or kevin or orin. they have been working on this for years and years.