Trump: ‘This coun­try is start­ing to rock’ from im­pact of tax cuts

The Washington Times Daily - - POLITICS - BY DAVE BOYER

Pres­i­dent Trump made a pitch in Florida on Mon­day for per­ma­nent tax cuts, crit­i­ciz­ing in­cum­bent Demo­cratic Sen. Bill Nel­son as an op­po­nent of the re­cently ap­proved tax-re­lief pack­age who would try to raise taxes if his party takes con­trol of Congress this year.

“Sen. Nel­son was hos­tile to it,” Mr. Trump said at an event on the econ­omy in Hialeah, Florida. “They [Democrats] want to ter­mi­nate and they want to raise your taxes. And we can­not let that hap­pen be­cause this coun­try is start­ing to rock with our busi­nesses com­ing back in.”

The tax cuts ap­proved in De­cem­ber low­ered cor­po­rate rates per­ma­nently. But re­duc­tions in per­sonal in­come-tax rates would ex­pire in 10 years, and the pres­i­dent warned the eco­nomic ben­e­fits will be lost if Democrats gain con­trol of the House and Sen­ate in Novem­ber.

Mr. Nel­son is run­ning for a fourth term this year against a Repub­li­can field that in­cludes Gov. Rick Scott, an ally of the pres­i­dent.

“Let me tell you, if for any rea­son they [Democrats] get in … they’re go­ing to raise your taxes way up high, they’re go­ing to ter­mi­nate this out,” Mr. Trump said. “Of course, I’ll veto it. But even­tu­ally, they want to ter­mi­nate [the tax cuts] and they want to raise your taxes.”

The pres­i­dent has been pro­mot­ing the ben­e­fits of the tax law, mind­ful that Repub­li­can con­gres­sional can­di­dates are fac­ing wor­ri­some prospects in Novem­ber’s mid-term elec­tions.

Among the dozens of re­tire­ments an­nounced by in­cum­bent Repub­li­can law­mak­ers is House Speaker Paul D. Ryan of Wis­con­sin, who said last week he wants to spend more time with his fam­ily.

Repub­li­can Rep. Mario Diaz-Balart, who rep­re­sents Hialeah, said the tax cuts are help­ing to spur eco­nomic growth of 3 per­cent or more af­ter years of slug­gish growth.

The Con­gres­sional Bud­get Of­fice (CBO) “had the fore­casts for the next fore­see­able fu­ture — 10 years — of less than 2 per­cent growth,” Mr. Diaz-Balart said. “That’s where we were headed. That was the new nor­mal. And I think a lot of peo­ple may have, kind of, given up. But look what hap­pens when you cut reg­u­la­tion, you lower taxes, you free up the Amer­i­can peo­ple, good things hap­pen.”

CBO also re­ported last week that the tax cuts, cou­pled with a $1.3 tril­lion spend­ing bill ap­proved by Congress and signed by the pres­i­dent, will cause fed­eral bud­get deficits to rise to more than $1 tril­lion within two years and re­main above that level for years to come.

Speak­ing on the day be­fore the per­sonal in­come-tax fil­ing dead­line, Mr. Trump said the tax law is giv­ing work­ers “more money in your weekly or monthly checks than you ever thought pos­si­ble.”

“This could be one of the great­est booms ever,” Mr. Trump said in the pre­dom­i­nantly Cuban-Amer­i­can city.

He also promised that tax­pay­ers will en­joy shorter, less-com­pli­cated tax forms next year, thanks to the law he signed in De­cem­ber.

“This is the last time you’re go­ing to fill out that long, com­pli­cated, hor­ri­ble re­turn,” the pres­i­dent said.

Mr. Trump met with His­panic busi­ness lead­ers along with Sen. Marco Ru­bio, Florida Repub­li­can, Trea­sury Sec­re­tary Steven T. Mnuchin and La­bor Sec­re­tary Alex Acosta. But with the tax­fil­ing dead­line loom­ing, the pres­i­dent said, “We’re go­ing to cel­e­brate a lit­tle bit.”

The busi­ness own­ers in­vited by the White House said their com­pa­nies are thriv­ing under the pres­i­dent’s poli­cies of lower taxes and fewer reg­u­la­tions.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.