Trump said that the United States are on the verge of a «new economic miracle»

© 2017 AFP / Nicholas Kamm US President Donald trump at a press conference in the White house. Archival photoTrump said that the United States are on the verge of a «new economic miracle»© 2017 AFP / Nicholas Kamm

The President of the United States Donald trump in his speech on tax reform stated that the United States are on the verge of a «new economic miracle».

He noted that if the U.S. Congress before Christmas (25 Dec) sent him a bill for tax reform, Americans «will see reduced taxes and large revenues since February».

«Today, we stand on the threshold of a new economic miracle,» said trump.

According to him, the growth of the U.S. economy is 3%, and «if there wasn’t a hurricane, it would be possible to achieve 4%». «Two years ago, when I started the campaign, it was unthinkable figure. And it will increase. We have created 2.2 million jobs since the election. Unemployment is at the lowest level in 17 years,» he added.

The American President said that the opponents of this bill argue that it is for the rich, «but they have not even seen the final bill.» «And I haven’t seen the final bill,» said the tramp, but added that it is «for people with average earnings, for companies that will create jobs.»

Currently in the house of representatives passes the final discussion of the tax reform proposed by the Republicans. Earlier, the White house said that the President is interested in reducing the tax to 20%.

On Wednesday, the media reported that Republicans in both houses of Congress finally agreed on a draft tax reform and hope to pass a law and send it to the President for signature next week.

The bill provides for a sharp reduction of taxation for business and lower rates for most individuals. However, for some Americans, mainly middle class taxes may rise due to the elimination of «loopholes» in the legislation and reduce the total amount of tax deductions.

In early December, the U.S. Senate approved a draft of tax reform. Its main provision — reducing the tax on corporate profits to 20% from the current 35%. Republicans believe that this will enhance the competitiveness of the US economy and return of overseas profits of American corporations in the trillions of dollars.

The tax reform in the interests of the middle class of America and increase the number of jobs was one of the main points of the electoral program of the trump.

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