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President Trump on Thursday hailed the Republican tax plan as a “big, beautiful Christmas present” for Americans, doubling down on his goal to sign it into law by year’s end.
“We’re working to give the American people a giant tax cut for Christmas,” he said at the White House. “We are giving them a big, beautiful Christmas present in the form of a tremendous tax cut.”
Trump repeated his false claim that the bill would deliver “the biggest tax cut in the history of our country.” That would be true if he was talking about corporate taxes, but not for the plan as a whole.
The president shifted into salesman-in-chief mode just hours after House Republicans unveiled their sweeping plan to slash individual and corporate tax rates.
"Great bill. Great bill. It's going to be very special, you'll see,” Trump said.
It’s the opening bid in the GOP’s effort to overhaul the tax code for the first time in 30 years, a goal Republicans say they will need the president’s bully pulpit to achieve.
Trump set an aggressive timeline for Congress to send a bill to his desk earlier this week, which he repeated Thursday during a meeting with House Republicans.
Trump turned to Rep. Kevin BradyKevin Patrick BradyEconomic growth rate slows to 2 percent as delta derails recovery Democratic retirements could make a tough midterm year even worse Yellen confident of minimum global corporate tax passage in Congress MORE (R-Texas), the top House tax writer, and said, “I want to have a bill on my desk hopefully, Kevin, by Thanksgiving if possible. I want everybody in this room, and we’ll add some others, as we sign."
But the plan has already run into opposition from interest groups, who oppose certain provisions like lowering the mortgage interest deduction.
Some GOP lawmakers representing high-tax states are also upset with language capping deductions for state and local taxes.
Others are worried the plan would blow a massive hole in the nation’s budget deficit.
Trump, however, told reporters he doesn’t believe “we’ll need very many” changes to the tax bill.
He said that under the proposal, Americans would be able to fill out their tax returns on a form the size of a postcard. Brady handed him a copy, and Trump held it up and kissed it.
"Most Americans will be able to fill taxes on a single seat of paper,” he said. “The only people that aren't going to like this are H&R Block."
Updated: 2:53 p.m.
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