President Donald Trump remarks while signing Tax Cut Bill
Also, comments on missile defense, continuing budget resolution
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good morning everybody thank you very
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much for being here and Merry Christmas
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Happy New Year have great holidays we
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are going to sign some very important
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things today
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one is a continuing resolution that very
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importantly gives us the right and we
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are ordering four billion dollars worth
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of missile defense equipment and
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missiles themselves very important
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top-of-the-line best in the world we
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make the best military product in the
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world nobody is even close so we’re
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ordering four billion dollars worth of
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missile defense and that will be done by
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signing right here and also by notifying
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the Speaker of the House and president
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of the Senate designating the missile
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defense as emergency defense fund so
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it’s four billion dollars for that and
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seven hundred million dollars for
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various other military forms of
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equipment and I’m very honored to be
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doing that our military has been doing a
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fantastic job in so many ways with Isis
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and everything they’re touching lately
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has been working out so we’re signing
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that
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this is the letter to Mitch McConnell
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and separately to Paul Ryan authorizing
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that having to do with missile defense
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okay
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very important so that’s being done
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today and that’s going to be sent out
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and then when I watched the news as you
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know we had the largest tax cuts in our
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history just approved and I was gonna
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wait for a formal signing sometime in
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early January but then I watched the
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news this morning and they will say will
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he keep his promise will he sign it by
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Christmas you are one but will he sign
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it by Christmas and I called downstairs
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I said get it ready we have to sign it
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now
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we’re gonna wait till January 7th or 8th
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and do a big formal ceremony but every
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one of the networks was saying will he
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keep his promise will he sign it for
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Christmas before Christmas and so I
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immediately called I said let’s get it
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ready as you know three point two
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trillion dollars in tax cuts for
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American families including the doubling
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of the standard deduction and the
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doubling of the child tax credit the
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typical family of four earning $75,000
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we see an income tax cut of more than
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two thousand dollars many much higher
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than the slashing their tax bill in half
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and they’re gonna start to see that
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because we’re signing today they’re
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gonna start to see that in February the
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numbers will speak one of the big things
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that happened you have some great
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companies I want to thank AT&T; who
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actually was the first out of the box
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and Boeing and Sinclair and Wells Fargo
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and Comcast even though they owned NBC
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which is not so nice to the presidency
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or the president but Comcast also they
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all have made tremendous contributions
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to their employees and tremendous
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contributions to spending money in this
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country because of the tax bill and they
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all said it it’s because of the tax bill
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so they’re making tremendous investments
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that means jobs means a lot of things
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and we’re very happy so that’s AT&T;
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Boeing Sinclair Wells Fargo Comcast and
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now many other companies as you
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in fact just this morning I see three
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more companies came on friend of mine
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Bob Kraft called me last night he said
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this tax bill is incredible
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he owns the New England Patriots but
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he’s in the paper business too and he
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said based on this tax bill he just
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wanted to let me know that he’s going to
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buy a big plant in the great state of
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North Carolina and he’s going to build a
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tremendous paper mill there or paper
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products plant and I’ve had many calls
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such as that people that are
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entrepreneurs people in business they’re
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going out and they’re going to buy
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frankly factories that are closed
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abandoned and now they’re not going to
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be abandoned and they love this is
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having an even bigger impact faster than
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I thought the corporate tax rate as you
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know will be lowered from 35 to 21
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percent that means that more products
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will be made in the USA a lot of things
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are going to be happening in the US and
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we’re going to bring back our companies
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that they’ve already started coming back
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I think they had certain confidence in
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me they figured we’re going to get this
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done but they have already started
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something very important to me the
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family farmers and small business owners
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who lost their business because of the
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estate tax most of them won’t have any
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estate tax to pay it will be a great
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thing for their families you can leave
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your farm to your family you can leave
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your business your small business to
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your family not even so small because
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the numbers are pretty big here so
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they’ll be exempt from having to pay
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estate tax which will be tremendous
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they’ll keep their farms and their
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businesses in the family businesses will
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be able to deduct 100 percent of the
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cost of their capital investments in the
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year the investment is made that’s
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called expensing and to do one year
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expensing I think is going to be one of
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the biggest things in the bill frankly I
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think people are going to go out and
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absolutely go wild over expensing Bob
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Kraft mentioned that last night in this
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telephone call the the fact that they
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can expense – when you’re expensing is a
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fantastic asset historic small business
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tax cuts and pastures now are made
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really really good for the business
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owner you know they’re high
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people I see it on television I’m
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reading about it all over where people
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are hiring a lot of people right now to
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go to work the small business tax cut
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and the passages are now really
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incentivizing people we’re going to
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bring back probably four trillion
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dollars from overseas nobody knows the
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exact number but it’s massive it’ll be
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over three trillion it could be five
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trillion but it’s a tremendous amount of
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money that was caught overseas that the
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bureaucracy plus the tax laws didn’t
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allow it to reasonably be brought back
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into our country so we think at least
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four trillion dollars is going to be
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brought back and if you look at that
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it’s going to be brought back right
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under the code this is something that
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Republicans wanted for years and
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Democrats wanted two years and yet it
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never got done who would object to
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trillions of dollars being brought back
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into our country nobody but it never got
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done now it’s being done and the bottom
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line is this is the biggest tax cuts and
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reform in the history of our country
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this is bigger than actually President
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Reagan’s many years ago I’m very honored
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by it in addition we have Anwar we’re
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opening up and war for drilling they’ve
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tried to get that for forty years
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they’ve tried to get that even during
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the Reagan administration they could
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never get it that alone would be a big
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bill if that ever happened but that’s
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even part of this and we have of course
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the individual mandate which is a very
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unfair and very unpopular provision as
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you know in Obamacare essentially I
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think it ultimately leads to the end of
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Obamacare it’s essentially I think
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Obamacare is is over because of that and
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we’re going to come up with something
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that’s really going to be very good but
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the individual mandate was very unfair
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because you’re basically saying pay for
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something in order not to have to get
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health care so you’re paying you’re
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paying not to have to have health care
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it was very unfair many people thought
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it should have been overturned in the
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supreme court didn’t quite make it
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almost but didn’t quite make it but now
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we’re overturning the individual
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most unpopular thing in Obamacare very
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very unfair so this is the bill right
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here and we’re very proud of it it’s
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gonna be a tremendous thing for the
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American people it’s gonna be fantastic
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for the economy it’s going to keep
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companies from leaving our shores and
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opening up in other countries they are
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very disincentivized to do that they are
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there’s not a lot of lot of not a lot of
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not a sense to do that you do that and I
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don’t think you’re going to be running
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the company very well so what’s
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happening is we’re going to sign this
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this is a little picture of it it fits
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nicely in the box I said take it out of
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the box because people have to say and
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all of this everything in here is really
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tremendous things for businesses for
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people for the middle class for workers
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and I consider this very much a bill for
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the middle class at a bill for jobs and
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jobs are produced through companies and
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corporations and you see that happening
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corporations are literally going wild
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over this I think even beyond my
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expectation so far beyond my
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expectations so I’ll sign this today
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rather than having a very big formal
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ceremony in two weeks when we were going
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to do it because I didn’t want you folks
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to say that I wasn’t keeping my promise
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I am keeping my promise I am signing it
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before Christmas I said that the bill
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would be on my desk before Christmas and
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you are holding me literally to that so
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we did a rush job today it’s not fancy
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but it’s the Oval Office it’s the Great
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Oval Office and just to conclude a
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country’s doing very well we
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tremendously cut regulations legislative
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approvals for which I’ve given no credit
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in the mainstream media we have I
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believe it’s 88 which is number one in
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the history of our country second now is
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Harry Truman Harry Truman had more
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legislative approvals than any other
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president and a record long held and
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beat him on legislative approval so for
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which I get no credit a lot of people
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say he needed this because he has had no
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legislative approvals
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well if you look at VA accountability
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act and so many other bills having to do
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with the VA having to do with the
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military having to do with many things
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we have more legislative victories than
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any other president not including this
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but this is the capper because this is
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again the biggest tax cut biggest reform
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of all time so it’s an honor to have you
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with us and we will sign this right now
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this is something I’m very proud of
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great for our country great for the
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American people thank you all
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so we went through the whole thing but
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this is basically what it is
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let’s you know
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and I want to thank some people in
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particular that aren’t here because
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again we expected a formal ceremony in
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two weeks but Mitch McConnell has been
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fantastic worked so hard we would speak
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at 3-00 in the morning and 2-00 in the
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morning and we would speak whenever we
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had to speak but do you work so hard and
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the exact same thing can be said for
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Paul Ryan they are very proud of this
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and we’re already seeing the results and
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I as I said long before long ahead of
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schedule Paul Ryan Mitch McConnell thank
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you very much Orrin Hatch the chairman
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made a beautiful speech the other day in
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front of the White House absolutely
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brilliant beautiful speech and we
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appreciated it and I appreciate it it’s
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hard working Kevin Brady we I don’t
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think he slept for months it’s almost
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like that’s all he did was this Mike
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Enzi senator and Diane black Rob Portman
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a group of Rutte Rob Portman Rob works
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so hard so knowledgeable on the subject
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Pat Toomey likewise Tim Scott likewise
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John Thune likewise these people work so
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hard and I don’t know if they given the
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proper credit and the whole Senate when
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I say the Senate unfortunately the
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Republicans in the Senate Democrats
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don’t like tax cuts they want to raise
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your taxes they don’t want to lower your
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taxes they want to raise your taxes and
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they want to spend money foolishly on
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things that we we don’t need in many
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cases so we’re cutting taxes we’re
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taking care of our military and we’re
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taking care of people and we’re really
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doing a job one job so these folks have
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been so fantastic that I had to call
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them and plenty of others believe me
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Republicans in the House and Republicans
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and the Senate have been incredible so
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this is what we
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we had it it was all set to go as soon
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as I got back from Christmas where we’ll
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be working in Florida I’ll be working
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very hard during that Christmas because
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we have many things with talking about
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including North Korea including a lot of
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things happening in the Middle East as
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you know we’ve made tremendous strides
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obviously in Syria with Isis we’ve taken
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back virtually all of the Caliphate all
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of the land same thing in Iraq and we’re
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making tremendous strides at sort of the
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unwritten story right now but since my
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speech on Afghanistan we’re making
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tremendous progress tremendous strides
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we’ve opened it up and it’s a whole
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different world in Afghanistan I can
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tell you then so I’ll be working very
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hard over the holidays again I want to
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wish you a very Merry Christmas I have
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some beautiful pens over here and
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because all of these folks are either
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continuing to work down the road or
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getting ready to leave and I’m sure
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they’ll be working very hard also I
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think I’m probably going to hand some of
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them to depress this the media would any
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of the media like any look at these
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camera guys but I think we’ll do that so
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we have them many of you have worked
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very hard many of you have worked very
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very fairly and we really appreciate
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that so here you go folks you want the
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box with it or not huh
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to sell this tax have to travel too much
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to sell it
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I think it’s selling itself it’s
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becoming very popular but I think it’ll
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really you’ll see something on February
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1st when they open up the paycheck
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that’s when you’re gonna start to see it
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because by signing it now it kicks in
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for this year remember if we didn’t make
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a certain date it wouldn’t kick in until
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next year meaning the following year 19
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and I wasn’t happy with that so we
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worked very very hard to make sure it
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was this year even language originally
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said the corporate would kick in in 19
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but we didn’t do that we we haven’t kick
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in and now but we had a sign so I don’t
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think we’re gonna have to do much
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selling I think the corporations that
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are giving billions and billions of
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dollars away to their workers and many
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more are coming I think that’s really
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what’s selling this maybe better than
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anybody could including myself but I
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think come February when they open their
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checks and they see wow what happened to
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have a lot more money in here I think
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that’s really going to be something very
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special so have a great holiday folks
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some of you folks take I in particular
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like the boom holders they were so nice
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to me the other day right and the
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cameramen and the captain mr.president
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education note Democrats have supported
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this tax cut legislation
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will they regret it I think the
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Democrats will really regret the
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Democrats already regret it you know
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they have their typical thing it’s for
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the rich they know that’s not true and
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they’ve been called out on it by the
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media actually but the Democrats very
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much regret it they wanted to be a part
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of it just doesn’t work out but I really
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do believe when I said on social media
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today I read I really do believe we’re
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going to have a lot of bipartisan work
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done and maybe we start with
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infrastructure because I really believe
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infrastructure can be bipartisan
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we’ve spent seven trillion dollars in
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the Middle East
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not to mention all of the lives and all
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of the heartache and it’s so sad seven
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trillion dollars it’s time for us to
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rebuild our country thank you very much
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thank you would have started with
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infrastructure at the beginning of this
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year would that up sort of set the tone
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differently well we’re gonna get
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infrastructure infrastructure is the
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easiest of all we’re very well in our
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way we’ve essentially Obamacare you know
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the individual mandate is a very big
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factor in this bill frankly a lot of
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people don’t talk about it because the
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tax cut is so forth but infrastructure
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is by far the easiest people wanted
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Republicans and Democrats we’re gonna
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have a tremendous Democrat support and
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infrastructure as you know I could have
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started with infrastructure I actually
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wanted to save the easy one for the one
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down the road so we’ll be having that
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pretty quickly thank you all very much
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every
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thanks guys but you think we’ll help you
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think we’ll help ya you know one thing I
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really learned as I learned had got to
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know and became very friendly with the
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people in the house the people in the
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Senate both Republicans and Democrats
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when I came you know I didn’t know too
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many I was very politically active but I
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didn’t know too many I think the fact
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that I become friends with so many of
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the names that I just read off in so
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many of the Senators so many of the
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congressmen and women I think that’s a
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huge factor I can call anybody now I
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know every one of them very well and I
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understand the legislation very well so
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you know it’s been a process it’s been a
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great for us it’s really beautiful but I
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do believe I do believe that the fact
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that I have gotten to know so many of
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these people and many of these people
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have to say not saying off what I’m
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saying many of these people are great
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people that truly love this country so I
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think that helps and I think you’ll see
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that in this legislation
