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Trump on tax reform: It's a 'great day for the American worker'

  • President Trump called the House tax reform bill an "important step toward providing massive tax relief for the American people."
  • He said it's also an example of his administration's pro-business agenda.
  • He warns that there was still a long way to go before the bill becomes law.
President Donald Trump speaks during a cabinet meeting at the White House in Washington, DC, on November 1, 2017.
Nicholas Kamm | AFP | Getty Images
President Donald Trump speaks during a cabinet meeting at the White House in Washington, DC, on November 1, 2017.

President Donald Trump on Thursday called the newly released Republican tax-reform plan "a great bill," and "another important step toward providing massive tax relief for the American people."

"Today is a great day for the American worker," Trump said at the White House. "Over the past 10 months, we've witnessed something remarkable happening to our country, a lot of change, a lot of difference. We've hit close to 60 records in the stock market since November 8, that very big day," Trump said, referring to the day he was elected president.

Speaking at a special event to announce a move by Singapore-based Broadcom to a U.S. based tax domicile in Delaware, Trump touted the tax-reform bill as an example of his administration's pro-business agenda. "It'll be the biggest tax cut in the history of our country, it will be tax reform, and it will create jobs," Trump said.

Trump met later in the day with House Republican lawmakers responsible for crafting the bill, and told them he wants "a bill on my desk hopefully by Thanksgiving, if that's possible, and I want everybody in this room standing by me."

"Do you want to see changes to the bill?" a reporter asked Trump.

"I don't think we'll need very many," replied the president.

Earlier in the day, Trump put out a statement emphasizing how many of his priorities were included in the legislation unveiled Thursday.

"My tax reform priorities have been the same since day one: bringing tax cuts for hardworking, middle-income Americans; eliminating unfair loopholes and deductions; and slashing business taxes so employers can create jobs, raise wages, and dominate their competition around the world," Trump said.

But he also warned that there was still a long way to go before the bill becomes law. "We are just getting started, and there is much work left to do. The special interests will distort the facts, the lobbyists will try to save their special deals, and some in the media will unfairly report on our efforts," he said.

"My administration will work tirelessly to make good on our promise to the working people who built our nation and deliver historic tax cuts and reforms — the rocket fuel our economy needs to soar higher than ever before."