Trump touts tax reform as he leaves for Camp David

As the GOP tax overhaul nears its fin...

Posted: Dec 17, 2017 6:09 PM
Updated: Dec 17, 2017 6:09 PM

As the GOP tax overhaul nears its final hurdle, President Donald Trump was eager to defend the bill Saturday, touting what he said would be its impact on the middle class as he left the White House for Camp David.

"This is going to be one of the great gifts to the middle-income people of this country that they've ever gotten for Christmas," Trump told reporters as Marine One whirred in the background.

When asked about the contention among critics of the bill that it would provide tax cuts mainly for the rich, the President pushed back, taking a dig at Democrats who he said have the "standard sound bite" ready "before they even know what the bill is all about -- they talk about for the wealthy."

"This really will mostly benefit the middle class and jobs," Trump said, an assertion he has made repeatedly as Congress has advanced the bill. "Companies, companies are coming in, they're pouring into the country, they've already started, and this will be great for jobs."

Republican lawmakers unveiled the final version of the bill Friday, putting them on track for a vote on it next week.

When asked by a reporter why the individual tax cuts would be only temporary --- they would expire after 2025 --- the President expressed optimism that a future administration would address the issue and perhaps even make the tax cuts more generous depending on whether efforts to boost the economy are successful.

"The economy now has hit 3%," Trump said. "Nobody thought it would be anywhere close. I think we can go to 4, 5, and maybe even 6%, ultimately."

Critics of the tax overhaul say it is heavily weighted to ease the tax burden of businesses rather than the middle class.

The legislation would drop the corporate tax rate from 35% to 21%, repeal the corporate alternative minimum tax, nearly double the standard deduction for individuals, and restructure the way pass-through businesses are taxed. It would also keep seven personal income tax brackets, allow individuals to deduct up to $10,000 in state and local taxes, and lower tax rates for most brackets, including dropping the top rate to 37% from 39.6%.

The President, who the White House said is meeting with Vice President Mike Pence, budget Director Mick Mulvaney, Treasury Secretary Steve Mnuchin and other Cabinet officials at Camp David this weekend, ignored questions from reporters on North Korea and the health of Sen. John McCain, R-Arizona, who is battling brain cancer.

But before he walked away, Trump added, "We are back. We are really going to start to rock. We need this as our final push."

The President continued to tout the legislation later Saturday afternoon, posting a news clip of his remarks to reporters on Twitter.

"TAX CUTS will increase investment in the American economy and in U.S. workers, leading to higher growth, higher wages, and more JOBS!" Trump tweeted.

Huntsville
Clear
43° wxIcon
Hi: 56° Lo: 34°
Feels Like: 39°
Florence
Clear
49° wxIcon
Hi: 57° Lo: 36°
Feels Like: 47°
Fayetteville
Clear
40° wxIcon
Hi: 54° Lo: 33°
Feels Like: 40°
Decatur
Clear
41° wxIcon
Hi: 57° Lo: 32°
Feels Like: 37°
Scottsboro
Clear
43° wxIcon
Hi: 58° Lo: 35°
Feels Like: 43°
WAAY Radar
WAAY WAAY-TV Cam
WAAY Temperatures

Alabama Coronavirus Cases

Cases: 232506

Reported Deaths: 3457
CountyCasesDeaths
Jefferson30318491
Mobile19260356
Tuscaloosa12446148
Madison12204146
Montgomery12000232
Shelby971276
Baldwin819984
Lee750464
Morgan610447
Calhoun5964113
Etowah585764
Marshall579453
Houston503338
DeKalb460835
Cullman409636
Limestone400844
St. Clair396055
Elmore391061
Lauderdale378353
Walker348096
Talladega334042
Colbert294341
Jackson290524
Blount275436
Autauga261739
Franklin243633
Coffee230315
Dale225454
Dallas219631
Russell21753
Chilton216137
Covington212333
Escambia194031
Tallapoosa168590
Chambers167548
Clarke154919
Pike154714
Marion133935
Winston122523
Lawrence121436
Geneva11678
Marengo116424
Barbour116010
Pickens114118
Bibb113617
Butler113341
Randolph99521
Cherokee98524
Hale91531
Washington89818
Clay88823
Henry8386
Fayette83116
Lowndes78529
Monroe76811
Cleburne74214
Crenshaw70030
Macon69420
Bullock68919
Conecuh66814
Perry6686
Wilcox62318
Lamar6227
Sumter55322
Choctaw41713
Greene39917
Coosa3064
Out of AL00
Unassigned00

Tennessee Coronavirus Cases

Cases: 340476

Reported Deaths: 4266
CountyCasesDeaths
Shelby45436634
Davidson40436402
Knox17413137
Rutherford16668150
Hamilton15723135
Williamson1050373
Sumner9016134
Wilson692474
Out of TN668748
Montgomery614481
Sullivan594689
Putnam572279
Washington550298
Maury541957
Blount508055
Madison5064104
Bradley476833
Sevier458530
Unassigned416314
Robertson352550
Tipton345136
Hamblen328257
Dyer307149
Gibson297761
Greene281868
Anderson271525
Dickson264427
Coffee260841
Carter250951
Bedford250328
Obion250347
Lawrence249632
Cumberland240035
McMinn232255
Warren226517
Hardeman220337
Roane217723
Loudon216517
Jefferson212631
Fayette212137
Weakley205934
Lauderdale198721
Monroe197042
Franklin189631
Trousdale189012
Wayne179310
Hawkins178234
Henderson178030
Macon175727
Hardin170925
White166417
Marshall163117
Carroll162832
Haywood159129
Rhea155530
Cocke153928
Overton150034
Campbell146521
Cheatham146316
Lincoln144413
Henry141517
McNairy137232
Smith136919
Johnson136721
Giles134242
Fentress116219
Lake11445
Bledsoe11405
Crockett110925
Hickman109417
DeKalb108220
Marion103117
Chester97919
Scott9407
Grainger91314
Decatur91012
Unicoi77123
Claiborne7509
Benton74914
Grundy73414
Lewis70411
Cannon6962
Union6865
Jackson6579
Morgan6546
Humphreys6407
Polk62914
Houston56819
Stewart54614
Clay52418
Sequatchie4895
Meigs45912
Perry45520
Moore3652
Pickett36512
Van Buren3382
Hancock1453

Community Events