President of the United States Donald Trump in his speech on the tax reform said that the US is on the threshold of a “new economic miracle.”
He noted that if the US Congress before Christmas (December 25) sends him a tax reform bill, the Americans “will see lower taxes and higher incomes starting from February.”
“Today we are on the threshold of a new economic miracle,” Trump said.
According to him, the growth of the US economy is 3%, and “if there were no hurricanes, it would be possible to achieve 4%.” “Two years ago, when I started the campaign, it was an unthinkable figure, and it will increase, we have created 2.2 million jobs since the elections, unemployment is at the lowest level in 17 years,” he added.
The American president noted that opponents of this bill argue that it is for the rich, “but they did not even see the final bill.” “And I did not see the final bill,” Trump said, but added that it was intended “for people with average earnings, for companies that would create jobs.”
Currently, the House of Representatives of the Congress is the final discussion of the tax reform proposed by the Republicans. Earlier, the White House said that the head of state is interested in reducing the tax to 20%.
On Wednesday media reported that Republicans in both houses of the US Congress finalized the draft tax reform and are hoping to pass a law and send it to the president for signature next week.
The bill provides for a sharp reduction in taxation for businesses and lower rates for most individuals. However, for some Americans, mainly for the middle class, taxes can be increased by eliminating “loopholes” in the legislation and reducing the total amount of tax deductions.
In early December, the US Senate approved a draft tax reform. Its main position is the reduction of the corporate profit tax to 20% from the current 35%. Republicans believe that this will increase the competitiveness of the US economy and return from abroad the profits of US corporations for trillions of dollars.
Carrying out tax reform in the interests of the middle class of America and increasing the number of jobs was one of the main points of Trump’s election program.