President Donald Trump delivered a speech to promote his tax plan at the Heritage Foundation’s annual President’s Club Meeting in Washington, D.C. on Tuesday evening.
President Trump began his remarks by pointing out that the stock market closed at record breaking all-time high. The president also hit on a number of common themes he often mentions in speeches: respecting the flag, abhorring socialism that’s thrived in a number of countries, and cherishing the heritage and legacy America was built upon.
“You now have an administration that promotes job creation and celebrates the dignity of work,” he said.
Trump excoriated the current tax structure as “outdated, complex, and extremely burdensome,” and promoted his own proposed tax plan as one that would simplify paying taxes for all Americans.
“At the heart of our plan is a tax cut for everyday working Americans,” he said, citing the plan’s proposal to double the standard deduction for individuals and married couples.
Critics of Trump’s tax plan have pointed to the tax break top earners would receive, and a new CBS poll found that a majority of Americans—58 percent—believe his plan favors the wealthy. The Heritage Foundation has been supportive of the tax proposal, as several of the organization’s scholars have written articles arguing that it would benefit all Americans. During his speech, Trump pointed out the Foundation’s role in shaping Ronald Reagan’s tax reform plan, as well as in helping the president nominate Justice Neil Gorsuch to the Supreme Court.
Trump also highlighted his proposal to increase the child tax credit, which he said so many people wanted, “including my daughter, Ivanka.”
“A majority of middle class American families will be able to file their taxes on a single sheet of paper,” he said. He encouraged attendees to call their congressmen and senators and urge them to vote in favor of the tax plan—”but be nice,” he added.
“Let’s give our country the best Christmas present of all: massive tax relief,” he said, deviating to one of his favorite topics. “Speaking of Christmas, I’ll give you a bigger Christmas present. You’re going to be saying: ‘Merry Christmas.'”
“As long as we have pride in our country, confidence in our future, faith in our God,” he concluded, “America will thrive as never before.”