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WTAS: President Trump's Tax Reform Plan

- September 28, 2017


President Trump's Tax Plan Is Being Greeted Enthusiastically By Americans

Rally Attendees Praised President Trump’s Tax Plan Rollout, With One Saying The President Is “Singing The Tune We Want.” REPORTER: “Trump’s plan would also help businesses be more globally competitive by slashing the corporate tax rate from 35 to 20%. It would also help small business owners by cutting their top tax rate from nearly 40% down to 25%.” RALLY ATTENDEES: “President’s Trump's really singing the tune the we want to hear to really grow our business and feel confident so, we're looking forward to it and hoping this tax plan goes through. It’ll be good for everybody.” (WLS-CHI’s “Eyewitness News,” 9/27/17)

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Other Rally Attendees Called The President’s Tax Proposal And Speech “Awesome” And Noted That They Were “Inspired” By A Plan They Feel Is “For The Middle Class.” STEVE PITTMAN: “The tax cut’s awesome. The words I was inspired by are bring back the middle class, make them strong again and that will fire the country.” DAVE ARMSTRONG: “Everything is focused on making things better and that's the key.  Better all around. Every level. No one is left behind. Now when you allow a person to keep more of the money that they make everything is better.” KIP TOM: “This is a middle class tax reform policy. For anyone saying it just favors the rich is wrong. This is for the middle class.” (WANE’s “Newschannel 15 at 6,” 9/27/17)

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Editorial Boards Have Reacted Positively To President Trump's Tax Proposal

The New York Post Editorial Board Praised President Trump’s Tax Proposal For Including Measures To Make U.S. Rates “Competitive” And To “Put More Money In Middle-Class Pockets.” “It includes corporate-tax reform to finally make US rates competitive with those of other developed nations, along with changes for other businesses to put them on a fair footing with corporations, plus revision of the personal income-tax code to put more money in middle-class pockets.” (Editorial, “Nice ‘Framework,’ Republicans — Now Get The Tax-Cut Job Done,” New York Post, 9/27/17)

  • Simplifying The Tax Code Will Make Taxes “Less Maddening.” Simplification of the code will also make it less maddening to actually do your taxes as well as ending some blatant inequalities. (Editorial, “Nice ‘framework,’ Republicans — Now get the tax-cut job done,” New York Post, 9/27/17)

According To The Washington Examiner Editorial Board, President Trump’s Move To Simplify The Tax Code Will Help Businesses Be More Productive And Innovative, While Forcing “Big Business” To “Compete On The Value Of Their Goods And Services.” “A simpler corporate tax code doesn’t just mean businesses would spend less time on paperwork and filing taxes, it means they can spend more time on productive endeavors, such as more innovation and product improvement. It also means Big Business won’t be able simply to hire the best tax accountants to beat the little guy. They’ll actually have to compete on the value of their goods and services.” (Editorial, “At Last, Tax Relief,” The Washington Times, 9/27/17)

According To The Investor’s Business Daily Editorial Board, President Trump’s Tax Plan Will “Boost Investment, Create More And Better Jobs, And Raise Average Workers' Incomes.” “By supporting corporate and small-business tax cuts that will boost investment, create more and better jobs, and raise average workers’ incomes, Americans won’t just be cutting taxes for businesses. They’ll be cutting their own taxes, too.” (Editorial, “Corporate Tax Cuts Are Great For Companies, But They'll Help Workers The Most,” Investor’s Business Daily, 9/27/17)

Pundits And Political Leaders Are Praising President Trump’s Tax Proposal And Speech

Former New Hampshire Gov. Chris Sununu Stated That President Trump’s Tax Plan Would “Encourage Work, Higher Education, Retirement Security, And Stop Corporations From Shipping Jobs Overseas.” “Sununu said the plan would provide tax breaks and retains benefits that would encourage work, higher education, retirement security, and stop corporations from shipping jobs overseas.” (New Hampshire Gov. Chris Sununu [R], “Sununu Says Trump's Tax Plan Would Help State Residents,” The Modesto Bee, 09/27/17)

Newt Gingrich, Former Speaker Of The House, Noted That President Trump’s Tax Reform “Will Be The Deepest Tax Cut For Small Businesses In 80 Years.” “This will be the deepest tax cut for small businesses in 80 years. #TaxReform.” (Newt Gingrich, Twitter Feed, 9/27/17)

Fox News Contributor Katie Pavlich Called The Elimination Of The Death Tax “GOOD.” “Death tax eliminated under Trump tax plan: GOOD.” (Katie Pavlich, Twitter Feed, 9/27/17)

The Heritage Foundation Stated That President Trump’s Tax Reform Plan Showed Congress And The White House “Aren’t Willing To Let Generational Opportunity Go To Waste.” “This #taxreform plan indicates Congress and the WH aren't willing to let this generational opportunity go to waste.” (Heritage Foundation, Twitter Feed, 9/27/17)

Tea Party Patriots’ Jenny Beth Martin Stated That President Trump’s Tax Plan “Cuts Taxes, Simplifies The System, And Could Generate Enough New Economic Activity To More Than Pay For Itself AND Help Pay Down The National Debt.” “The plan cuts taxes, simplifies the system, and could generate enough new economic activity to more than pay for itself AND help pay down the national debt. This is the kind of tax reform America needs, and conservatives will push hard for its enactment.” (Jenny Beth Martin, Op-Ed, “The GOP’s Tax Reform Proposal Couldn’t Be Better,” The Hill, 09/28/17)

CNBC Contributor Jake Novak Noted That President Trump’s Tax Plan Is The “Most Significant Tax Relief In Modern U.S. History For Americans Who Really Need It.” “The Trump/GOP tax reform plan is out. And it includes what could be the most significant tax relief in modern U.S. history for Americans who really need it.” (Jake Novak, “This Is The Most Important Point In The GOP Tax-Reform Plan,” CNBC, 09/27/17)

Economists Support President Trump’s Tax Proposal

Arthur Laffer, Economic Advisor To President Reagan And Architect Of Reaganomics, Called President Trump’s Tax Reform Agenda A “Good Plan.” FOX BUSINESS’ DAVID ASMAN: “Here is Art Laffer, laugher associate chairman and former Reagan economic advisor and for all we know, a guy probably wrote some of this or at least inspired some of what we heard from the president today. Generally speaking, Art, what do you think?” ARTHUR LAFFER: “I think it's a pretty good plan. I mean when he said red line, by the way, they have been described that incorrectly. He said a red line going above 20, not going below 20. He is open having it drop down to 15, clearly, and was clear on that. There is one other thing you should know, as alternative minimum tax effectively eliminates state and local tax deductions anyway, the preferred item. Therefore eliminating state and local tax deductions and AMT is really neutral. It's a flat thing for most people.” (FBN’s “After The Bell,” 9/27/17)

University Of Maryland Economist Peter Morici Stated That President Trump’s Tax Proposal “Will Make The Tax System Much Simpler For Most Ordinary People.” CNN’s PETER MORICI: “It will make the tax system much simpler for most ordinary people. Remember there are two issues here, not how much tax people pay, but what a terrible headache April 15th has become, this will relief this headache for most people.” (CNN’s “The Lead With Jake Tapper,” 9/27/17)

Companies And Business Groups Are Lauding President Trump’s Tax Proposal

Bank And Tech Stocks Rose “In Hopes For Tax Reform.” “Bank and tech stocks rise on hopes for tax reform. Nasdaq jumps 1%. Russell 2000 index of small stocks soars 2%.” (CNN Money Breaking News, Twitter Feed, 9/27/17)

U.S. Chamber Of Commerce President And CEO Thomas J. Donohue Stated That President Trump’s The Tax Reform Framework Is “Good News For American Families And Employers,” Will Help Those Struggling Meet Ends Meet, And Help Employers Create New Jobs. “‘Today’s announcement is good news for American families and employers. Tax reform will help families who are struggling to make ends meet and employers who want to grow their business and create new jobs. The U.S. Chamber is pleased to see consensus among congressional leaders and the administration on a plan that will kick-start long overdue reform.’” (Press Release, “U.S. Chamber Welcomes Tax Reform Framework,” Chamber Of Commerce Of The United States Of America, 09/27/17)

The National Federation Of Independent Business (NFIB) Stated That They Were “Grateful” To The President And Congressional Leaders For “Remaining Steadfast” On Tax Reform. “We are grateful to the President and congressional leaders for remaining steadfast on tax reform. We are pleased to see that the initial plan calls for reducing taxes on pass-through companies, which represent the overwhelming majority of American small businesses.” (National Federation Of Independent Business, Twitter Feed, 9/27/17)

The National Association Of Manufacturing (NAM) Called President Trump’s Tax Reform Framework A “Bold Action Manufacturers Have Been Calling For.” “The tax reform framework released today is the type of ‘bold action’ manufacturers have been calling for. Now it's time to act.” (National Association Of Manufacturing, Twitter Feed, 9/27/17)

The International Franchise Association (IFA) Tweeted That Tax Reform Was “Long Overdue” And Thanked President Donald Trump And Republican Leadership For Their Efforts. “#Taxreform is long overdue! The franchise community thanks @realDonaldTrump @SenateGOP & @HouseGOP for their leadership!” (International Franchise Association, Twitter Feed, 9/27/17)

Granger Macdonald, Chairman Of The National Association Of Home Builders (NAHB), Praised President Trump’s Tax Plan For Outlining Ways To “Reduce The Tax Bill Of Thousands Of Small Businesses And Help To Spur Job And Economic Growth.” “‘By lowering the pass-through rate, the plan will reduce the tax bill of thousands of small businesses and help to spur job and economic growth. More importantly, the blueprint maintains the low income housing tax credit, the most indispensable tool to help produce affordable rental housing. The plan also retains a business interest deduction for small businesses, which would ensure that our future tax code is truly pro-growth.’” (Granger Macdonald, “U.S. Home Builders Pleased With New Trump, GOP Tax Reform Plan,” World Property Journal, 09/27/17)

National Retail Foundation (NRF) President And CEO Matthew Shay Welcomed President Trump’s Tax Reform Plan As “Much-Needed Relief For Corporations, Small Businesses And Middle-Class Individuals Alike” That Will Draw “Foreign Capital And Investment To The United States.” “‘We look forward to hearing more details but this is a very positive step forward to achieving the kind of comprehensive tax reform that is needed to keep our nation’s economy competitive in the global environment,’ NRF President and CEO Matthew Shay said. ‘This plan would provide much-needed relief for corporations, small businesses and middle-class individuals alike, and would help draw foreign capital and investment to the United States. This is the framework we need to unlock job creation and economic growth.’” (Matthew Shay, “Retailers Say Tax Reform Proposal Could Provide Major Boost For The Economy,” National Retail Federation, 09/27/17)

Indiana Chamber Of Commerce President And CEO Said That President Trump’s Tax Proposal Would “Accelerate Economic Growth And Expand Jobs, And Allow For The U.S. To Be More Competitive With Other Countries.” “The Indiana Chamber is advocating for a plan that will accelerate economic growth and expand jobs, and allow the U.S. to be more competitive with other countries. WE believe President Trump’s tax proposal will do just that.” (Indiana Chamber Of Commerce, Twitter Feed, 9/27/17)

According To Global Chairman And CEO Of EY Mark A. Weinberger, President Trump’s Tax Plan Will Provide The “Necessary Elements To Create Jobs And Growth.” “‘It’s crunch time for congress. The unified framework provides the necessary elements to create jobs and growth: competitive tax rates for businesses, a more competitive international tax system that would not punish businesses for bringing foreign earnings to the United States and middle class tax relief.’” (Mark A. Weinberger, “‘Big Six’ Framework Shows Positive Momentum For Tax Reform,” Business Roundtable, 09/27/17)

President Trump’s Tax Plan And Speech Received Accolades From Lawmakers In Both Chambers

Senate Majority Leader Mitch McConnell (R-KY) Called President Donald Trump’s Tax Reform Framework A “Once-In-A-Generation Opportunity To Fundamentally Rethink Our Tax Code.” “This is our once-in-a-generation opportunity to fundamentally rethink our tax code. We should take this moment and act on #taxreform.” (Sen. Mitch McConnell, Twitter Feed, 9/27/17)

Speaker Of The House Paul Ryan (R-WI) Said That President Trump Showed “Leadership On Tax Reform.” “@POTUS showing leadership on tax reform. Looking forward to watching his speech live in a few minutes:” (Rep. Paul Ryan, Twitter Feed, 9/27/17)

  • Speaker Ryan Called President Trump’s Tax Reform Framework “Simple, Fair, Pro Growth And Pro Family.” “@SpeakerRyan: ‘This unified framework delivers a new tax code that is simple, fair, pro growth and pro family.’” (Rep. Paul Ryan, Twitter Feed, 9/27/17)

House Majority Leader Kevin McCarthy (R-CA) Credited President Trump For Bringing Republicans “Together” And Putting Forward A Tax Plan For “All Of America.” HOUSE MAJORITY LEADER KEVIN MCCARTHY: “I have to give a lot of credit to President Trump. He has brought both houses together, worked out differences, and put a tax plan for all of America.” (Fox News’ “Fox And Friends,” 9/28/17)

House Majority Whip Steve Scalise (R-LA) Noted That Tax Reform “Is Critical To Economic Growth And Job Creation.” “Reforming our broken tax code is critical to economic growth and job creation.” (Rep. Steve Scalise, Twitter Feed, 9/27/17)

Senator Jeff Flake (R-AZ) Said He Was “Excited” To Review President Trump’s Tax Reform Framework Because The United States Must “Lower Our Corporate Tax Rate If We Hope To Compete Globally.” “I'm excited to review today’s #TaxReform framework & start this process. We must lower our corporate tax rate if we hope to compete globally.” (Sen. Jeff Flake, Twitter Feed, 9/27/17)

Senator James Lankford (R-OK) Stated He Was “Encouraged” By The Direction Of President Trump’s Tax Reform And Hopes That It Will “Alleviate Some Of The Tax Burden On Both Hardworking American Families And Job Creators.” “Very encouraged by direction of #taxreform talks to alleviate some of the tax burden on both hardworking American families & job creators.” (Sen. James Lankford, Twitter Feed, 9/27/17)

Senator Dean Heller (R-NV) Said President Trump’s Tax Reform Framework “Is A Positive Step Toward Achieving #Taxrelief.” “Our framework is a positive step toward achieving #taxrelief for #NV families & Americans, & now Congress must act.” (Sen. Dean Heller, Twitter Feed, 9/27/17)

Senator Ted Cruz (R-TX) Said The “Priorities” Detailed In President Trump’s Tax Reform To Fix The “Broken, Burdensome Tax Code Are Incredibly Encouraging.” “The priorities laid out today to reform our country’s broken, burdensome tax code are incredibly encouraging.” (Sen. Ted Cruz, Twitter Feed, 9/27/17)

Senator Pat Toomey (R-PA) Claimed That “It’s Time To Give Every American A Pay Raise By Lowering Their Tax Burden.” “It's time to give every American a pay raise by lowering their tax burden. My statement on the #TaxReform framework.” (Sen. Pat Toomey, Twitter Feed, 9/27/17)

Chairmen Of The House Freedom Caucus Rep. Mark Meadows (R-NC) Stated That President Trump’s Tax Framework “Will Actually Get Our Economy Going Again.” REP. MARK MEADOWS (R-NC):  “It’s a great day not only on here Capitol Hill but should be a great day from coast-to-coast. Because we're not only moving forward on tax reform as I told you that we would be doing, but actually we're being aggressive and bold about it. there was the tendency a few weeks ago to do something that would I believe be very anemic for economic growth and yet what we’re going to see is not only what was rolled out today but the coming details that will actually get our economy going again. And we’re excited about that. The Freedom Caucus has come out in support of the frame work. But also in support of moving the budget and opens the gate to start to deal with this.” (Fox News’s “Your World With Neal Cavuto,” 9/27/17)

Representative Tim Walberg (R-MI) Stated That President Trump’s Tax Reform Would Allow “Hard-Working, Middle Class Families In Michigan To Keep More Of What They Earn.” “This framework begins the process of simplifying the tax code and allowing hard-working, middle class families in Michigan to keep more of what they earn.” (Rep. Tim Walberg, Twitter Feed, 9/27/17)

Representative Todd Rokita (R-IN) Said That President Trump’s Tax Reform Will “Help Grow Our Economy, Create Jobs, And Make Our Businesses More Competitive.” “Tax reform will help grow our economy, create jobs, and make our businesses more competitive. I’m ready to continue working with #POTUS.” (Rep. Todd Rokita, Twitter Feed, 9/27/17)

Representative Patrick McHenry (R-NC) Stated That President Trump’s Tax Reform Would Help Americans “Keep More Of Their Paychecks.” “The GOP unified framework for #taxreform will help #Americans keep more of their paychecks. Read my full statement:” (Rep. Patrick McHenry, Twitter Feed, 9/27/17)

Representative Jim Banks (R-IN) Said That He Was “Looking Forward” To Hearing President Trump’s Speech On Tax Reform That Would “Level The Playing Field For Hoosier Families & Businesses.” “Looking forward to hearing @DonaldTrump speak on #taxreform that will level the playing field for Hoosier families & businesses.” (Rep. Jim Banks, Twitter Feed, 9/27/17)

Representative Don Bacon (R-NE) Noted That With President Trump’s Tax Reform, “Lower, Middle Income Earners Will Keep More Of Their Hard Earned Wages.” “W/tax reform, those paying 10 percent rate now will pay 0 percent. Lower, middle income earners will keep more of their hard earned wages.” (Rep. Don Bacon, Twitter Feed, 9/27/17)


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