President Donald Trump has promised the American people that he will push through the biggest tax cuts since Ronald Reagan, then added “probably bigger than Reagan.”
During an interview with Fox News’ Jesse Watters, Trump promised to reduce the top-tier corporate tax rate and reduce the number of tax brackets by more than half.
Here’s an excerpt:
WATTERS: “The income tax rate, what are we talking about? What would you like to see the top rate be?”
TRUMP: “Well we’re going to get a big reduction, we’re going to bring business down from 15% to 20% from 36% and 38% and higher in some instances. We are the highest taxed nation in the world. And we are going to bring taxes way down. And for middle income, we’re also getting rid of brackets. We are going from 7 to 4 or 3 brackets. And that will be such a pleasure.”
WATTERS: “What would you like to see the brackets look like?”
TRUMP: “Well I would like to see zero if you don’t make much. Like zero, and that’s what it’s going to be, it’s going to be zero up to a level. Then it’s going be 12.5%, 15%. It’s going to be 10 percent. We’re working on the different numbers right now. It will be the biggest tax cut since Reagan and probably bigger than Reagan.”
WATTERS: “Very good because I need the money.”
Trump also spoke about Kentucky Sen. Rand Paul, with nice words about the oftentimes confrontational lawmaker.
“I like him, he’s become a friend of mine. He’s a good guy and he means well. I think ultimately we will come together,” said Trump.
When asked about criticism of him in the media, Trump pointed to the positive changes since his inauguration.
“We’ve done a great job in terms of manufacturing. Look at the border, down now 61 percent since the inauguration, stock market’s up almost 16 percent since the inauguration, over $3 trillion of value has been created, many jobs have been created,” he said. “So ultimately that’s the thing that talks and as you probably saw the polls that came out today — I’m at my all time high for this”