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WTAS: Praise Continues to Roll in for President Trump's Unified Framework for Tax Reform

WTAS: Praise Continues to Roll in for President Trump's Unified Framework for Tax Reform | whitehouse.gov

the WHITE HOUSEPresident Donald J. Trump

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The White House
Office of the Press Secretary
For Immediate Release

WTAS: Praise Continues to Roll in for President Trump's Unified Framework for Tax Reform

EDITORIAL BOARDS

The Wall Street Journal Editorial Board: “Overall, the GOP has produced a tax-reform outline that can revitalize a weak economic expansion, lead to more new business creation, enhance worker productivity, and lift wages.”

New York Post Editorial Board: “The US economy needs strong medicine to break out of the slow-growth ‘new normal’ it’s been trapped in since the Great Recession. That has left Wall Street and the rich doing fine, but Main Street and everyone else struggling. The Big Six — Trump’s top two economic advisers, the House and Senate leaders and the two chairmen of Congress’ tax-writing committees — have now outlined just the medicine. 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. Simplification of the code will also make it less maddening to actually do your taxes as well as ending some blatant inequalities.”

The Washington Times Editorial Board: “The details of the plan are almost all positive and pro-growth. This is as much a jobs bill as a tax plan.”

Washington Examiner Editorial Board: “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.”

Investor’s Business Daily Editorial Board: “Among the most potent provisions in the GOP tax reform package unveiled Wednesday by President Trump are the big cuts in taxes on corporations and small businesses…. 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.”

National Review Editorial Board: “Republicans’ framework for tax reform is chock-full of good ideas about modernizing the taxation of business.”

PRIVATE SECTOR LEADERS, COMMENTATORS, AND ADVOCACY GROUPS

Eli Lilly & Co. Chairman And CEO David A. Ricks: “When President Trump came to my company’s hometown of Indianapolis on Wednesday to lay out his tax-reform plan, it was welcome news. The proposal, developed by the White House and congressional Republicans, would cut the corporate tax rate to 20%, put in place a territorial system, and maintain tax credits for research and development. This would go a long way toward leveling the playing field for American workers and businesses competing against their foreign peers.”

Best Buy Chairman and CEO Hubert Joly: “I am encouraged by the latest efforts by the Administration and Congressional leaders to advance corporate tax reform and the progress that has been made in recent months. For the first time in decades, the country has a real opportunity to achieve significant tax reform which will allow companies to reinvest in jobs, grow the economy and create opportunities for all Americans. We are ready to help pass tax reform this year.”

Job Creators Network President and CEO Alfredo Ortiz: “While many details still need to be filled in, this is a crucial and positive step in the right direction. Make no mistake: the recent progress in the campaign for tax relief should bring optimism to the 29 million small business owners and the roughly 56 million people that depend on them for their livelihoods.”

Mercatus Center Senior Research Fellow Veronique de Rugy: “There is a lot to like in this plan: It reforms the corporate income tax system, it reduces the tax rate for small businesses and S-corps, it simplifies the tax brackets on the individual side of the code from seven to three, it eliminates some of the tax exemptions which are both a handout to special interests and make the tax code complex and unfair. The bottom line is that, if implemented, it would be an improvement of our tax code.”

The Heartland Institute President Tim Huelskamp: “President Donald Trump and Republicans are showing what strong leadership looks like by proposing this forward-looking tax plan. These tax reforms would help Americans get back to work and assist in draining the Washington, DC swamp.”

The Heritage Foundation Policy Analyst Adam Michel: “Bold tax reform got a big boost on Wednesday. Leaders in the House, the Senate, and the White House have all agreed on a tax outline, meaning a true update to our broken tax system could be imminent…. Most simply, this will allow all Americans to keep more of their hard-earned money in their pockets. Importantly, the plan goes a long way toward fixing our business tax system, which makes it hard for U.S. businesses to invest in new equipment and new factories. Slow investment caused by our high and distortionary taxes has limited American job creation and slowed wage growth.”

Independent Women’s Forum Senior Policy Analyst Patrice Onwuka: “The White House tax plan is a win for women…. Women will benefit as workers, keeping more of their earnings. Lowering the corporate tax rate will make it more likely that workers might finally see a real raise. And female business owners can look forward to greater growth and the opportunity to expand as they become more competitive with international businesses. We may experience even faster growth in women-owned businesses, which are already being established 1.5 times faster the national average. This tax plan would be a big step in the right direction for women and our country.”

Tea Party Patriots President Jenny Beth Martin: “Tea Party Patriots and our network of grassroots activists are excited by the framework President Trump and Republicans in Congress have released for top-to-bottom tax reform. After eight years of a stagnant economy under former President Obama that left too many American families behind, we are confident that fundamental tax reform will help Americans keep more of their hard-earned money, and will also foster an economic environment that will lead to greater job creation and prosperity for all Americans. The framework released by the White House and congressional Republicans will establish a tax system for individuals that is simpler, flatter and fairer, helping to lessen not only the enormous tax burden on Americans, but will also greatly reduce the outrageous compliance costs associated with today’s overly complex code.”

Fox News Contributor Bradley Blakeman: “President Trump’s tax plan is smart and timely. What matters is not how well Wall Street is doing. What matters t is how well Main Street is doing. These reforms will be a tremendous boost to the middle class. It is time for a major overhaul of the U.S. tax code, tax rates, deductions and loopholes. What our economy needs more than anything is fairness and certainty. This plan will bring that.”

MEMBERS OF CONGRESS

Sen. Ted Cruz (R-TX): “The priorities laid out today by Congressional leadership and the White House to reform our country’s broken, burdensome tax code are incredibly encouraging. There are numerous positive elements in the current outline for which I have long advocated, from lowering and flattening rates for individuals and businesses, to eliminating the death tax and the alternative minimum tax, to allowing for expensing of capital investments, to making reforms that will bring American jobs and companies back to the United States from overseas.”

Sen. Rob Portman (R-OH): “Our current tax code encourages U.S. companies to take jobs and investments overseas. The United States is falling behind while other countries are attracting more investment and more jobs at our expense. That is unacceptable. Our reform effort will encourage more investment in America, bring jobs home, and give American workers a competitive advantage…. I’ve been very pleased to see President Trump talking about the urgency of this issue around the country, including again today in Indiana. I’m optimistic about the prospects for getting tax reform signed into law this year. Working together, we can simplify our tax code in a common-sense way to increase investment here in America, create more jobs & increase wages for American workers.”

Sen. Pat Toomey (R-PA): “I see this as an amazing opportunity and responsibility. Enacting legislation consistent with this framework will allow us to achieve the growth that we’ve been waiting so long to achieve. There’s nothing normal about two percent growth for the United States of America. We’re capable of so much more. When we get this right, I am confident that we will achieve robust growth. What that means for the hardworking families that I represent all across Pennsylvania is a direct pay raise when we lower their direct tax burden. It also means an indirect pay raise as more jobs are created and more businesses are launched. Upward pressure on wages allows people to have a higher standard of living.”

Rep. Brian Babin (R-TX): “This framework – supported by both the White House and leaders in Congress – marks an important first step in delivering pro-growth tax reform and relief to the American people. Having grown to over 70,000 pages long, the current tax code is too costly, complex and burdensome. It is time we simplify our broken tax code and allow Americans to keep more of their hard-earned money. This framework provides an important path forward that will lead to bigger paychecks, more jobs and greater economic freedom for middle class Americans. I look forward to working with my colleagues in achieving this historic opportunity to create a fairer, simpler, less burdensome tax code for the American people.”

Rep. Steve Pearce (R-NM): “Small businesses are the cornerstone and families are the backbone of our state. For too long, our nation’s complex, antiquated, and one-sided tax code has caused stress, undue burden, and hard-earned money to ensure compliance. This is simply wrong, and must change not only for the success of our communities, but for the success of New Mexico and the nation. The tax framework released today has the potential to finally bring the relief that has long been needed. Done right, it will strengthen the middle-class and working-class, ease the burden and stress on families, make small businesses a priority, and put America back on the competitive global playing field.”

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