President Trump said Saturday that the U.S. economy is “really going to start to rock” after Congress approves a $1.4 trillion tax-cut plan next week.
“We need this as our final push,” Mr. Trump told reporters as he departed the White House for Camp David. “We are back. We are really going to start to rock. Jobs are going to come pouring back into this country.”
Senate Republicans said Friday they have enough votes to approve the legislation early next week, after several GOP holdouts said they will support the bill. The plan will cut the corporate tax rate from 35 to 21 percent, cut individual rates and increase the standard deduction and child tax credit.
Pushing back against Democrats’ criticism that the legislation benefits mainly the wealthy, Mr. Trump said the measure will be “one of the great Christmas gifts to middle-income people.”
“The Democrats have their soundbite, the standard soundbite before they even know what the bill is all about,” Mr. Trump said. “They talk about ‘for the wealthy.’ But this is going to be one of the greatest gifts for the middle income people of this country that they’ve ever gotten for Christmas.”
If Mr. Trump signs legislation into law this month, workers should see the benefits in their paychecks in February.