President Donald Trump remarks while signing Tax Cut Bill

President Donald Trump remarks while signing Tax Cut Bill

Also, comments on missile defense, continuing budget resolution

President Trump Signs Tax Cut Bill

00-00

good morning everybody thank you very

00-01

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

00-16

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

00-27

top-of-the-line best in the world we

00-30

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

00-53

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

01-04

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

01-12

that

01-23

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

02-00

very important so that’s being done

02-02

today and that’s going to be sent out

02-04

and then when I watched the news as you

02-07

know we had the largest tax cuts in our

02-10

history just approved and I was gonna

02-14

wait for a formal signing sometime in

02-16

early January but then I watched the

02-18

news this morning and they will say will

02-20

he keep his promise will he sign it by

02-22

Christmas you are one but will he sign

02-26

it by Christmas and I called downstairs

02-29

I said get it ready we have to sign it

02-31

now

02-31

we’re gonna wait till January 7th or 8th

02-34

and do a big formal ceremony but every

02-37

one of the networks was saying will he

02-39

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

02-46

ready as you know three point two

02-48

trillion dollars in tax cuts for

02-51

American families including the doubling

02-53

of the standard deduction and the

02-55

doubling of the child tax credit the

02-59

typical family of four earning $75,000

03-02

we see an income tax cut of more than

03-05

two thousand dollars many much higher

03-08

than the slashing their tax bill in half

03-11

and they’re gonna start to see that

03-14

because we’re signing today they’re

03-16

gonna start to see that in February the

03-18

numbers will speak one of the big things

03-20

that happened you have some great

03-22

companies I want to thank AT&T; who

03-24

actually was the first out of the box

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and Boeing and Sinclair and Wells Fargo

03-29

and Comcast even though they owned NBC

03-31

which is not so nice to the presidency

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or the president but Comcast also they

03-39

all have made tremendous contributions

03-42

to their employees and tremendous

03-45

contributions to spending money in this

03-47

country because of the tax bill and they

03-50

all said it it’s because of the tax bill

03-52

so they’re making tremendous investments

03-54

that means jobs means a lot of things

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and we’re very happy so that’s AT&T;

03-59

Boeing Sinclair Wells Fargo Comcast and

04-03

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

04-09

Bob Kraft called me last night he said

04-12

this tax bill is incredible

04-14

he owns the New England Patriots but

04-16

he’s in the paper business too and he

04-19

said based on this tax bill he just

04-21

wanted to let me know that he’s going to

04-24

buy a big plant in the great state of

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North Carolina and he’s going to build a

04-30

tremendous paper mill there or paper

04-33

products plant and I’ve had many calls

04-36

such as that people that are

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entrepreneurs people in business they’re

04-41

going out and they’re going to buy

04-43

frankly factories that are closed

04-45

abandoned and now they’re not going to

04-47

be abandoned and they love this is

04-49

having an even bigger impact faster than

04-52

I thought the corporate tax rate as you

04-54

know will be lowered from 35 to 21

04-57

percent that means that more products

04-59

will be made in the USA a lot of things

05-03

are going to be happening in the US and

05-04

we’re going to bring back our companies

05-06

that they’ve already started coming back

05-07

I think they had certain confidence in

05-10

me they figured we’re going to get this

05-11

done but they have already started

05-13

something very important to me the

05-15

family farmers and small business owners

05-18

who lost their business because of the

05-20

estate tax most of them won’t have any

05-22

estate tax to pay it will be a great

05-26

thing for their families you can leave

05-27

your farm to your family you can leave

05-30

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

05-38

estate tax which will be tremendous

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they’ll keep their farms and their

05-41

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

05-50

called expensing and to do one year

05-53

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

06-01

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

06-12

tax cuts and pastures now are made

06-15

really really good for the business

06-17

owner you know they’re high

06-18

people I see it on television I’m

06-21

reading about it all over where people

06-22

are hiring a lot of people right now to

06-24

go to work the small business tax cut

06-27

and the passages are now really

06-30

incentivizing people we’re going to

06-32

bring back probably four trillion

06-34

dollars from overseas nobody knows the

06-37

exact number but it’s massive it’ll be

06-39

over three trillion it could be five

06-40

trillion but it’s a tremendous amount of

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money that was caught overseas that the

06-45

bureaucracy plus the tax laws didn’t

06-48

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

07-01

under the code this is something that

07-03

Republicans wanted for years and

07-05

Democrats wanted two years and yet it

07-07

never got done who would object to

07-09

trillions of dollars being brought back

07-11

into our country nobody but it never got

07-14

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

07-24

Reagan’s many years ago I’m very honored

07-28

by it in addition we have Anwar we’re

07-31

opening up and war for drilling they’ve

07-33

tried to get that for forty years

07-35

they’ve tried to get that even during

07-36

the Reagan administration they could

07-38

never get it that alone would be a big

07-40

bill if that ever happened but that’s

07-43

even part of this and we have of course

07-47

the individual mandate which is a very

07-51

unfair and very unpopular provision as

07-53

you know in Obamacare essentially I

07-57

think it ultimately leads to the end of

07-59

Obamacare it’s essentially I think

08-01

Obamacare is is over because of that and

08-04

we’re going to come up with something

08-05

that’s really going to be very good but

08-07

the individual mandate was very unfair

08-09

because you’re basically saying pay for

08-12

something in order not to have to get

08-14

health care so you’re paying you’re

08-16

paying not to have to have health care

08-19

it was very unfair many people thought

08-22

it should have been overturned in the

08-23

supreme court didn’t quite make it

08-25

almost but didn’t quite make it but now

08-27

we’re overturning the individual

08-28

most unpopular thing in Obamacare very

08-31

very unfair so this is the bill right

08-35

here and we’re very proud of it it’s

08-38

gonna be a tremendous thing for the

08-40

American people it’s gonna be fantastic

08-42

for the economy it’s going to keep

08-45

companies from leaving our shores and

08-48

opening up in other countries they are

08-51

very disincentivized to do that they are

08-54

there’s not a lot of lot of not a lot of

08-56

not a sense to do that you do that and I

08-59

don’t think you’re going to be running

09-00

the company very well so what’s

09-02

happening is we’re going to sign this

09-04

this is a little picture of it it fits

09-08

nicely in the box I said take it out of

09-10

the box because people have to say and

09-12

all of this everything in here is really

09-17

tremendous things for businesses for

09-21

people for the middle class for workers

09-24

and I consider this very much a bill for

09-26

the middle class at a bill for jobs and

09-29

jobs are produced through companies and

09-32

corporations and you see that happening

09-33

corporations are literally going wild

09-36

over this I think even beyond my

09-38

expectation so far beyond my

09-40

expectations so I’ll sign this today

09-43

rather than having a very big formal

09-45

ceremony in two weeks when we were going

09-48

to do it because I didn’t want you folks

09-51

to say that I wasn’t keeping my promise

09-53

I am keeping my promise I am signing it

09-55

before Christmas I said that the bill

09-58

would be on my desk before Christmas and

10-00

you are holding me literally to that so

10-03

we did a rush job today it’s not fancy

10-05

but it’s the Oval Office it’s the Great

10-08

Oval Office and just to conclude a

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country’s doing very well we

10-13

tremendously cut regulations legislative

10-17

approvals for which I’ve given no credit

10-20

in the mainstream media we have I

10-22

believe it’s 88 which is number one in

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the history of our country second now is

10-28

Harry Truman Harry Truman had more

10-30

legislative approvals than any other

10-32

president and a record long held and

10-37

beat him on legislative approval so for

10-40

which I get no credit a lot of people

10-41

say he needed this because he has had no

10-44

legislative approvals

10-45

well if you look at VA accountability

10-48

act and so many other bills having to do

10-50

with the VA having to do with the

10-52

military having to do with many things

10-53

we have more legislative victories than

10-57

any other president not including this

11-00

but this is the capper because this is

11-02

again the biggest tax cut biggest reform

11-05

of all time so it’s an honor to have you

11-10

with us and we will sign this right now

11-12

this is something I’m very proud of

11-15

great for our country great for the

11-17

American people thank you all

11-32

so we went through the whole thing but

11-35

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

11-49

particular that aren’t here because

11-51

again we expected a formal ceremony in

11-53

two weeks but Mitch McConnell has been

11-55

fantastic worked so hard we would speak

12-01

at 3-00 in the morning and 2-00 in the

12-02

morning and we would speak whenever we

12-04

had to speak but do you work so hard and

12-07

the exact same thing can be said for

12-08

Paul Ryan they are very proud of this

12-13

and we’re already seeing the results and

12-16

I as I said long before long ahead of

12-18

schedule Paul Ryan Mitch McConnell thank

12-22

you very much Orrin Hatch the chairman

12-24

made a beautiful speech the other day in

12-28

front of the White House absolutely

12-31

brilliant beautiful speech and we

12-32

appreciated it and I appreciate it it’s

12-34

hard working Kevin Brady we I don’t

12-37

think he slept for months it’s almost

12-39

like that’s all he did was this Mike

12-42

Enzi senator and Diane black Rob Portman

12-47

a group of Rutte Rob Portman Rob works

12-50

so hard so knowledgeable on the subject

12-52

Pat Toomey likewise Tim Scott likewise

12-55

John Thune likewise these people work so

12-58

hard and I don’t know if they given the

13-00

proper credit and the whole Senate when

13-03

I say the Senate unfortunately the

13-06

Republicans in the Senate Democrats

13-10

don’t like tax cuts they want to raise

13-12

your taxes they don’t want to lower your

13-14

taxes they want to raise your taxes and

13-17

they want to spend money foolishly on

13-18

things that we we don’t need in many

13-21

cases so we’re cutting taxes we’re

13-25

taking care of our military and we’re

13-27

taking care of people and we’re really

13-29

doing a job one job so these folks have

13-32

been so fantastic that I had to call

13-34

them and plenty of others believe me

13-36

Republicans in the House and Republicans

13-39

and the Senate have been incredible so

13-42

this is what we

13-44

we had it it was all set to go as soon

13-46

as I got back from Christmas where we’ll

13-49

be working in Florida I’ll be working

13-52

very hard during that Christmas because

13-53

we have many things with talking about

13-55

including North Korea including a lot of

14-00

things happening in the Middle East as

14-01

you know we’ve made tremendous strides

14-04

obviously in Syria with Isis we’ve taken

14-07

back virtually all of the Caliphate all

14-10

of the land same thing in Iraq and we’re

14-13

making tremendous strides at sort of the

14-15

unwritten story right now but since my

14-17

speech on Afghanistan we’re making

14-19

tremendous progress tremendous strides

14-21

we’ve opened it up and it’s a whole

14-23

different world in Afghanistan I can

14-25

tell you then so I’ll be working very

14-27

hard over the holidays again I want to

14-31

wish you a very Merry Christmas I have

14-32

some beautiful pens over here and

14-35

because all of these folks are either

14-38

continuing to work down the road or

14-42

getting ready to leave and I’m sure

14-44

they’ll be working very hard also I

14-46

think I’m probably going to hand some of

14-49

them to depress this the media would any

14-51

of the media like any look at these

14-52

camera guys but I think we’ll do that so

14-55

we have them many of you have worked

14-59

very hard many of you have worked very

15-02

very fairly and we really appreciate

15-04

that so here you go folks you want the

15-06

box with it or not huh

15-10

to sell this tax have to travel too much

15-14

to sell it

15-16

I think it’s selling itself it’s

15-17

becoming very popular but I think it’ll

15-20

really you’ll see something on February

15-22

1st when they open up the paycheck

15-24

that’s when you’re gonna start to see it

15-25

because by signing it now it kicks in

15-28

for this year remember if we didn’t make

15-30

a certain date it wouldn’t kick in until

15-33

next year meaning the following year 19

15-36

and I wasn’t happy with that so we

15-38

worked very very hard to make sure it

15-40

was this year even language originally

15-42

said the corporate would kick in in 19

15-44

but we didn’t do that we we haven’t kick

15-46

in and now but we had a sign so I don’t

15-49

think we’re gonna have to do much

15-50

selling I think the corporations that

15-52

are giving billions and billions of

15-53

dollars away to their workers and many

15-56

more are coming I think that’s really

15-58

what’s selling this maybe better than

16-00

anybody could including myself but I

16-02

think come February when they open their

16-04

checks and they see wow what happened to

16-07

have a lot more money in here I think

16-09

that’s really going to be something very

16-10

special so have a great holiday folks

16-13

some of you folks take I in particular

16-16

like the boom holders they were so nice

16-18

to me the other day right and the

16-20

cameramen and the captain mr.president

16-23

education note Democrats have supported

16-26

this tax cut legislation

16-27

will they regret it I think the

16-29

Democrats will really regret the

16-32

Democrats already regret it you know

16-34

they have their typical thing it’s for

16-36

the rich they know that’s not true and

16-37

they’ve been called out on it by the

16-39

media actually but the Democrats very

16-42

much regret it they wanted to be a part

16-44

of it just doesn’t work out but I really

16-46

do believe when I said on social media

16-48

today I read I really do believe we’re

16-51

going to have a lot of bipartisan work

16-54

done and maybe we start with

16-56

infrastructure because I really believe

16-58

infrastructure can be bipartisan

17-00

we’ve spent seven trillion dollars in

17-02

the Middle East

17-04

not to mention all of the lives and all

17-06

of the heartache and it’s so sad seven

17-09

trillion dollars it’s time for us to

17-12

rebuild our country thank you very much

17-21

thank you would have started with

17-29

infrastructure at the beginning of this

17-31

year would that up sort of set the tone

17-32

differently well we’re gonna get

17-34

infrastructure infrastructure is the

17-35

easiest of all we’re very well in our

17-38

way we’ve essentially Obamacare you know

17-42

the individual mandate is a very big

17-43

factor in this bill frankly a lot of

17-45

people don’t talk about it because the

17-46

tax cut is so forth but infrastructure

17-49

is by far the easiest people wanted

17-51

Republicans and Democrats we’re gonna

17-53

have a tremendous Democrat support and

17-54

infrastructure as you know I could have

17-57

started with infrastructure I actually

17-58

wanted to save the easy one for the one

18-01

down the road so we’ll be having that

18-03

pretty quickly thank you all very much

18-05

every

18-08

thanks guys but you think we’ll help you

18-15

think we’ll help ya you know one thing I

18-18

really learned as I learned had got to

18-20

know and became very friendly with the

18-22

people in the house the people in the

18-25

Senate both Republicans and Democrats

18-27

when I came you know I didn’t know too

18-30

many I was very politically active but I

18-31

didn’t know too many I think the fact

18-33

that I become friends with so many of

18-35

the names that I just read off in so

18-36

many of the Senators so many of the

18-39

congressmen and women I think that’s a

18-41

huge factor I can call anybody now I

18-43

know every one of them very well and I

18-45

understand the legislation very well so

18-48

you know it’s been a process it’s been a

18-49

great for us it’s really beautiful but I

18-51

do believe I do believe that the fact

18-54

that I have gotten to know so many of

18-57

these people and many of these people

18-59

have to say not saying off what I’m

19-01

saying many of these people are great

19-03

people that truly love this country so I

19-06

think that helps and I think you’ll see

19-09

that in this legislation

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