The Republican tax plan, according to President Donald Trump will boost the economy to such heights as were characteristic of Ronald Reagan’s era. Trump spoke at the Heritage Foundation annual meeting, where he showed optimism regarding the planned tax cuts, which he believes would bring benefits to the economy in general.
“Working closely with the Heritage Foundation, Ronald Reagan cut taxes to unleash the economic miracle of the 1980s. You understand that lower taxes mean bigger paychecks, more jobs, and stronger growth. At the heart of our plan is a tax cut for everyday working Americans,” Trump said in his address.
He added that the tax proposal is a unique opportunity to regenerate the economy, revitalize the industry and revive the American dream, urging the foundation to aid Republicans in passing the tax plan.
“The Heritage Foundation can once again help make history by helping to take this incredible idea, this proven idea, this tax cut [and] making it a reality for millions and millions of patriotic Americans,” Trump said.
He also urged passage of the tax plan by the end of the year, which is vital for securing tax reform and passing any future legislation with a party-line vote. The Senate is to take a budget vote by Friday the latest.
Numerous other administration officials have also called on Senate to pass the GOP budget proposal.
“I think that everyone has a real sense of urgency over this. Not just because of what it means for us politically or for members of Congress politically, but for what it means to the American people and how this is going to impact them,” a senior administration official said.
In his speech, Trump once again reiterated the tax plan would favor the middle class, providing the expansion of the child tax credit as an example. However, he did not go into details regarding specifics of the tax plan, Politico reported.