President Trump's goals have been the same since day one: bring tax cuts for hardworking, middle-income Americans; eliminate unfair loopholes and deductions; and slash business taxes so employers can create jobs, raise wages, and dominate their competition around the world.
House Republicans Release Historic Tax Plan
Yesterday, President Trump met with members of the House Committee on Ways and Means at the White House to discuss the newly unveiled Tax Cuts and Jobs Act. The plan lowers individual tax rates for low- and middle-income Americans, eliminates special-interest deductions, and repeals the death tax and Alternative Minimum Tax. “It’s tax cuts, it’s tax reform, and we added the word ‘jobs’ because it’s all about jobs,” said President Trump. “We’re going to have tremendous numbers of jobs pouring in.”
Bringing Jobs Home to America
In the Oval Office yesterday, President Trump announced that Fortune 100 tech company Broadcom Limited is moving its headquarters to the United States. The company is currently based in Singapore and employs over 7,500 American workers. Hock Tan, CEO of Broadcom Limited, said the decision to relocate Broadcam was driven by his “desire to give back to this country that has given me so much." The move will bring more than $20 billion in annual revenue back to the U.S.
"My administration is working every day to make the United States the most attractive place in the world to do business," said President Trump, “so that more and more companies like Broadcom come back to our shores, grow their businesses, and create more and more American jobs. And you see that happening on a daily basis.”
See the full announcement here.
President Trump Announces Fed Chair Nominee
On Thursday afternoon in the Rose Garden, President Trump announced his nomination of Governor Jerome (“Jay”) H. Powell as Chairman of the Federal Reserve. Governor Powell was selected by the President because of his professional experience, commitment to sound monetary and financial policy, and strong record of independent judgement.
Governor Powell has been a Federal Reserve board member since 2012 and has built a reputation as an effective and well-respected policymaker who has the judgment and experience necessary to lead the Federal Reserve. He previously served as Undersecretary of the Treasury under President George H.W. Bush.
See more from the announcement here.
President Donald J. Trump announced the nomination of Jerome Powell to be Chairman of the Board of Governors of the Federal Reserve System | November 2, 2017 (Official White House Photo by Andrea Hanks)
Today, President Trump departs for Hawaii, where he will participate in a United States Pacific Command briefing. Afterwards, President Trump and First Lady Melania Trump will participate in a tour of the USS Arizona Memorial. This is the President’s first stop before traveling to Asia for his longest foreign trip since taking office. During this trip, he will strengthen international resolve to de-nuclearize North Korea, promote a free and open Indo-Pacific, and advance American prosperity.
Vice President Mike Pence will travel to Maryland to visit the United States Secret Service Training Center.
This weekend, President Trump will depart Hawaii en route to Japan where he will meet with Emperor Akihito and Empress Michiko and conduct working meetings with Prime Minister Shinzō Abe and other Japanese leaders to reaffirm that America stands with Japan against the North Korea nuclear threat. Next week, the President will be visiting South Korea, China, Vietnam, and the Philippines.
Tomorrow, Vice President Pence will travel to York, Pennsylvania, to speak with local families and businesses about the need for tax reform.
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