October 22, 2018

Trump to Make Case for Tax Reform in Heritage Foundation Speech

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The Daily Signal by Fred Lucas

President Donald Trump will speak Tuesday at an annual meeting of Heritage Foundation members in Washington. Trump is expected to promote his tax reform proposal, the top legislative priority for the White House.

Trump and Republicans in Congress have made overhauling the tax code their focus for the remainder of 2017. Since August, Trump has delivered a series of speeches across the country touting the benefits of tax relief for middle-class Americans.

Tuesday night’s address to a gathering of Heritage’s President’s Club will continue on that theme. It will be Trump’s first speech at an event held by The Heritage Foundation, which previously has hosted Presidents Ronald Reagan, George H.W. Bush, and George W. Bush.

“The timing of this year’s speech couldn’t be better,” said Ed Feulner, founder and president of the leading conservative think tank. “Congress has a once-in-a-generation opportunity to deliver sweeping, pro-growth tax reform for the American people. The president will address this critical issue, and we await his remarks with great anticipation.”

The speech will take place at 7:30 p.m. Tuesday. Live video will be available at The Daily Signal, the think tank’s multimedia news organization.

The tax reform proposal backed by Trump and congressional Republicans would:

  • Increase the deduction for child care and caring for elderly adults; make the first $12,000 for individuals and first $24,000 for married couples income-tax free.
  • Eliminate various tax deductions that benefit certain industries or special interest groups.
  • Simplify the tax filing process so that most Americans can file on a single sheet of paper.
  • Cut the corporate tax rate from 35 percent to 20 percent, which the White House Council on Economic Advisers estimates would boost wages by $4,000 for the average American household.
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As he did during speeches in Missouri, Indiana, Pennsylvania, and North Dakota, Trump is expected to use personal stories to illustrate how tax reform will lead to greater opportunity and prosperity for Americans.

The speech comes after a full week of major policy announcements from the White House on issues such as immigration, Obamacare, and the Iran nuclear agreement.

 

Permission to republish granted by The Daily Signal/Heritage Foundation.

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Unhyphenated American female, born and raised in the Empire State and who like most New Yorkers, in spite of being a registered Democrat, I voted for the candidate, not the party which meant voting often across party lines throughout the years. In 2008, coming to terms once and for all with the fact that Democrats and I had nothing in common, I left the liberal cesspool forever. Of course, I now have a grudge to settle after decades of being lied to and so I blog to right the wrongs and expose the lies.