Senator David Perdue Discusses Historic Tax Cuts On CNBC
“The person who is going to benefit the most in this tax plan is the person that gets a job”
WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA) spoke with Joe Kernen, Becky Quick, and Andrew Sorkin on CNBC’s Squawk Box about the historic action the U.S. Senate has taken to fix the tax code, help middle-class families, and make America more competitive again.
Historic Opportunity: “It’s a historic day in Washington. People are expecting us to get tax done, and I think we will.”
Simplifying The Code: “This is a simplification. Only 30% of taxpayers today itemize, and that’s projected to go down to 10%. To say it another way, 90% of all taxpayers will use the standard deduction, which was doubled in this plan. This is by any definition simplification.”
Growing Optimism: “Getting our corporate rate to be competitive with the rest of the world is the best thing we can do for the American worker, and I think that’s what you’re seeing in some of these optimism numbers now.”
Relief For The Middle Class: “This is indeed a tax cut for the middle class. A family of four, who make the median income of $73,000, are going to get a 60% tax cut. A single mom, with one child, making $41,000 is going to get a 75% tax cut.”
Making America Competitive: “Our focus here is to get competitive again, and the person who is going to benefit the most in this tax plan, is the person that gets a job.”
Senator David Perdue: Historic Opportunity To Fix Tax Code
Providing relief for American workers, growing our economy, & making us more competitive
WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA) joined Senate Republicans, Senior Trump Administration officials, and grassroots leaders for an event to highlight the importance of changing our tax code this year to provide relief for American workers, grow the economy, and make U.S. businesses more competitive.
U.S. Senator David Perdue: “We have an opportunity to deliver results and fundamentally change this tax code for the first time since 1986. We know that Washington needs a sense of urgency. President Trump has called us to action. He is moving at a business pace, not a bureaucratic pace. He wants us to pass the House and Senate bill by Thanksgiving, and that he wants it on his desk by Christmas. This is totally possible in our opinion. The House has made a great effort to start this process. It’s a great starting point, providing relief for American workers, growing our economy, and making us more competitive with the rest of the world.”
Secretary Steven Mnuchin, U.S. Treasury: “Nothing is more important to the President’s economic agenda than tax reform and tax cuts. I have appreciated the opportunity to work with members of the Senate and the House since the beginning of the year on this. We couldn’t be more excited about where we are. This is about making America competitive again.”
Kellyanne Conway, Counselor to President Trump: “We’re also trying to help the job holders which represent the vast majority of American households. When my grandfather had a job, when your grandfather had a job, the job was enough to support the whole family. Now we have households that have two and three jobs. Some are not worried about losing a job or replacing a lost job, but they have no idea why the job is no longer enough. Why are they white-knuckled at the end of each month to pay their rent, their mortgage, the tuition, or the student loan voucher payment? We want to give them the much needed relief that they deserve.”
Grover Norquist, President of Americans for Tax Reform: “We look at the tax code and we start taking out stupid. China is at a 25% tax on businesses, we’re at 35%. Stupid. Let’s not be there. We have a lot of American earnings stuck overseas because our tax code doesn’t let it come back to the country without punitive taxes. Stupid. Let’s end that, and allow people to bring money here to create jobs and opportunities in factories here in the United States.”