Trump Pushes Tax Reform at Heritage Dinner

'Makes me want to immediately go back into business'

Donald Trump

Donald Trump / Getty Images

BY:

President Donald Trump pitched his tax reform plan during a keynote address at the Heritage Foundation's annual President's Club meeting on Tuesday evening in Washington, D.C.

"Let's give our country the best Christmas present of all—massive tax relief," Trump said. "And speaking of Christmas, I'll give you a bigger Christmas present, we're going to be saying Merry Christmas again."

Calling it a once-in-a-generation opportunity, the president touted his administration's tax reform plan as the "biggest reduction in taxes in the history of the country."

Trump said the plan saves the average American family $4,000. He also pushed for increasing the child tax credit, simplifying the tax code, and cutting the business tax rate, which he called a "self-inflicted economic wound."

Trump joked that the plan "makes me want to immediately go back into business," when discussing allowing businesses to completely write off equipment expenses for one year.

The Heritage Foundation advocates for the elimination of the state and local tax deduction, which the group says incentivizes local governments to impose higher taxes and adds to inefficient government spending.

Speaker of the House Paul Ryan (R., Wis.) has set a timeline for the House to pass its tax cut package by the end of the month, with the Senate passing its version in November. The Senate first must pass budget legislation, which will allow Republicans to pass tax reform on a party-line vote through the reconciliation process.

Trump also continued to call for respect for the national anthem and pledge of allegiance and praised the Heritage Foundation for fighting for American values.

"For America to have confidence in our future we must have pride in our history," he said. "Freedom is not a gift from government, freedom is a gift from God."

Trump also mentioned the fight over removing historical monuments.

"Now they're even trying to destroy statues of Christopher Columbus," he said. "What's next?"

Trump's remarks were given at the Marriott Marquis, across from the Mount Vernon Place United Methodist Church. The liberal church has a placard that reads, "We repent for our roots in white supremacy."

Elizabeth Harrington   Email Elizabeth | Full Bio | RSS
Elizabeth Harrington is a staff writer for the Washington Free Beacon. Elizabeth graduated from Temple University in 2010. Prior to joining the Free Beacon, she worked as a staff writer for CNSNews.com. Her email address is elizabeth@freebeacon.com. Her Twitter handle is @LizWFB.

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