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America is coming back bigger, better and stronger: US President Trump

The tax cuts are the most significant tax cut, most significant reform in American history, with tremendous tax relief for working families, for small businesses, for big businesses that produce jobs

Donald Trump  |  Pennsylvania 

Donald Trump, Trump

My daughter, Ivanka, is also here with us today. (Applause.) And she worked so hard on the Child Credit. Ivanka, come up. Come up here, will you? Come up. Come on up. And a very special thank you to George Koch for hosting us. (Applause.) Done a great — done a great job, really a great job. Thank you, thank you. What an incredible company. Ivanka, are you going to say a couple of words about the Child Credit? Boy, did you work hard. MS. TRUMP: Hi, everyone. It is always amazing to be here in Pennsylvania and to be here with all of you. We worked so hard on cuts and reform. And the President, my father, was very specific about what he wanted to accomplish. It was so core to him to support hardworking, middle-income families, and the Child Credit is key to doing that. So it’s going to be a big win for everyone in this room and everyone across this country, and we are very, very excited about that. Doubling the standard deduction, the Child Credit — all of these elements that make this a very family-friendly plan but also enable great American businesses, like this one, to thrive and be competitive in a global landscape. So we’re very proud of it, and is just starting to realise just how great our cut plan is. So more of that to come. But thank you for having me here. Thanks. (Applause.) THE PRESIDENT: Thank you, baby. Thank you very much, She worked hard. She’s a hard worker. All of our kids are hard workers, right? They work, and we love to see it. And they’re doing a terrific job for our country. I’ve come to the great city of Pittsburgh to stand with people — and those people are incredible workers — and to show the world that is back, and that we are coming back bigger and better and stronger than ever before. And we’re making our own product again. And we’re opening up our factories again. (Applause.) I mean, you take a look at what’s going on, where Toyota is coming in. And the other day, you just saw announce they’re moving from Mexico back to Michigan — you don’t hear that too often — with a big, big monster factory. They’re going to spend a lot of money. (Applause.) At the center of America’s resurgence are the massive cuts that I just signed into law. And it’s also reform, but I usually just say cuts because that’s what people — they don’t want to hear about the reform. Believe me, the reform is very important. We don’t have to go into it. But the cuts are the most significant cut — most significant reform in American history, with tremendous relief for working families, for small businesses, for big businesses that produce jobs — for just about everybody. Tremendous numbers. And you’re already seeing what’s happening. You’re seeing what’s going on. The signs of America’s comeback can be seen at companies like this one, which just had its most successful year in its 35-year history. Congratulations, good job. (Applause.) And I just learned from the powers that be that Equipment will soon be making a $2.7 million capital thanks to the new cuts.

So I appreciate that, and the workers appreciate that. It’s good. You’re doing a great, great job. Great equipment. (Applause.) That means more growth and, ultimately, it means more jobs. So congratulations. We have created nearly 2.2 million jobs since the election. (Applause.) The rate is at, now, an 18-year low. I would say 17 years, and now it just lifted to 18 years. The number of Americans applying for benefits just hit a 45-year low. (Applause.) Something I’m really proud of, because I’ve been saying it — what do you have to lose? African American is at its lowest level ever recorded. (Applause.) Female is at the lowest level in 17 years. (Applause.) Hispanic American has hit its all-time lows — lowest ever. (Applause.) Pensions and retirement accounts are surging in value as the stock market smashes one record high after another. How many people have 401(k)s here? (Applause.) You’re brilliant (Laughter.) I’ve had people come up — “Sir, my wife thinks I’m the most brilliant investor because I made 42 percent in the last 10 months.” And that’s pretty good. But people are happy. Anybody unhappy with the 401(k)? I don’t think so, right? Well, we can keep it like this. We’re going to win a lot of elections, that I can tell you. It’s something. No, it’s something. (Applause.) “It’s the economy, stupid.” Did you ever hear that one? (Applause.) It’s the It is indeed. As soon as, really, a few weeks from now, millions of American workers will be seeing the signs of America’s comeback in their paychecks in February. Very simply, your paychecks will be much bigger because, under our cuts, you will be keeping more of your hard-earned money. We are doubling the Child Credit, increasing the refundable credit by 40 per cent — 40, not 14 — 40. And we are making the child credit available to more families than ever before — not even close. When we began our push for cuts, I promised that our bill would result in more jobs, higher wages, and tremendous relief for middle-class families, and that is exactly what we have delivered. There’s only one thing — even I never knew how big it would be. It’s much bigger — and you see it — than anybody anticipated. We kept our promise. In Pennsylvania alone, families will see a cut of about $11 billion just this year alone. (Applause.) That’s pretty good. That’s pretty good. A typical family of four earning $75,000 will see an income cut of more than $2,000 a year — that’s like a $2,000 raise — slashing their income bill in half. Many will save much more than that. is a great example. Where’s Ken? The legendary You got to be happy with this. Is Ken doing a good job? (Applause.) Everybody knows. Ken, come on over here. Come on up here, Ken. (Applause.) Come on, if you can make it. He’ll figure out how to get that thing open. If he can’t do it, nobody can, right? Ken joined 14 years ago as a mechanic and worked his way up to become a project foreman. Because of our cuts, Ken will save almost $2,200 in income taxes. Two thousand — so, Ken, you just got a $2,200 raise. (Applause.) Come here. And if I had a head of hair like that, I would have been President years ago, Ken. Years ago. (Laughter and applause.) But we’ve nearly doubled the amount of income taxed at the rate of zero. So, Ken, you’ve seen a big difference? MR. WILSON: Absolutely. THE PRESIDENT: Come here. Thank you, man.

Edited excerpts from remarks by the US President at Equipment Company, Coraopolis, Pennsylvania, US, January 18

First Published: Sat, January 27 2018. 19:32 IST