SPRINGFIELD, Mo. — President Donald Trump spoke in Springfield, Mo. on Wednesday.
He started speaking around 1:40 p.m. and opened with the latest details on Hurricane Harvey victims in Texas and Louisiana.
The president then shifted to talking about tax reform.
Trump said he wants to work with Congress to reform the tax code for the first time in 30 years.
“There is no more fitting place to launch this effort than right here in the American Heartland,” he said.
Speaking on Route 66, Trump said it once was a symbol of America’s booming economy. Truck drivers shipped American goods on it, and families visited growing towns along the road.
“In recent years, millions of Americans have watched that prosperity slip away in the rear view mirror,” he said.
During the last 10 years, Trump said the country’s economy has only grown at two percent. The president said the U.S. just hit three percent GPD, and he thinks it can go even higher.
Speaking on his tax reform plan, Trump said he has four key principles:
1. A tax code that’s simple fair and easy to understand.
2. A competitive tax code that creates more jobs and higher wages for Americans.
3. Tax relief for middle class families.
4. Bringing back trillions of corporate profits parked overseas.
The president said his administration is working on renegotiating NAFTA, as well as tax reform.
Trump said he wants to bring the business tax down to 15 percent to put the U.S. ahead of other competitive nations.
“Lower taxes on American business means higher wages for American workers,” he said.
Large companies keeping profits overseas do so to keep from paying high American taxes, Trump said. He talked about reducing bureaucracy and tax rates so companies will bring that money back into America. He estimated between $3 and $5 trillion dollars of this money exists overseas.
Trump called for a bipartisan effort to get his tax reform plan passed.
“Products made with American hands, labor and grit will once again be delivered throughout the world,” Trump said. “Instead of exporting our jobs. We’ll export our goods. Our jobs will both stay here in America and come back to America. We’ll have it both ways. Millions of struggling citizens will be lifted from welfare to work.”
His entire speech can be seen below.