Trump Glosses Over Tax Gift For Rich
< < Go Back
The president avoided specifics while promising to alleviate what he called the “crushing tax burden” on American companies.
Speaking at an event in Springfield, Missouri, on Wednesday, President Donald Trump sought to depict his tax cut proposal as a way to help the struggling U.S. middle class.
“We are here to bring back Main Street by reducing the crushing tax burden on our workers and our companies,” Trump said.
“There is no more fitting place to launch this effort than right here in the American heartland,” he added, calling the nearby historic Route 66 highway a “vivid symbol of America’s booming industry.”
The president spoke at an event at Loren Cook Co., which manufactures fans, blowers and lab exhaust systems. The company’s owner donated to Trump and to various Missouri GOP officials during the 2016 campaign cycle.
We don’t know much yet about Trump’s plan for tax reform ― but based on the broad outlines released by the administration, experts say the wealthy would enjoy the greatest benefits. Millionaires in Missouri, for example, would receive an average tax cut of $190,560 in 2018, equal to 7.9 percent of their income, according to the nonpartisan Institute on Taxation and Economic Policy.
More From The Huffington Post:
Rss Feed