President Donald Trump promised the American people a “big, beautiful Christmas gift” in the form of “giant tax cuts” during a Thursday press conference.
The GOP revealed the details of their long-awaited tax reform plan on Thursday. The bill would slash corporate tax rates, decrease the number of tax brackets, and eliminate the estate tax.
Trump said that this bill, in addition to the “job-killing regulations” his administration is cutting, will lead to economic growth and more jobs.
“We’re working to give the American people a giant tax cut for Christmas,” Trump said. “We are giving them a big, beautiful Christmas present in the form of a tremendous tax cut.”
“It will be the biggest cut in the history of our country–it will also be tax reform, and it will create jobs,” he declared. “We will make the tax code simpler and fair–it’s called simplification.”