Tax reform: Donald Trump's plan to bring 'biggest cuts ever'

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Donald Trump (1)
US President Donald Trump waves as he steps from Air Force One upon his arrival in West Palm Beach, Florida, February 17, 2017. Reuters/Kevin Lamarque

US President Donald Trump has talked about his tax cut plans on Sunday. He also encouraged House members to follow through on tax reform during a House GOP conference call.

Trump mentioned his plan to bring the “biggest [tax] cuts ever in the history of this country” in an interview with Fox Business Network's Maria Bartiromo. He said he thinks “we’re going to get our taxes,” which could possibly happen before 2017 ends or maybe sooner.

“So there’s a great spirit for it, people want to see it, and I call it tax cuts. it is tax reform also, but I call it tax cuts,” Trump said. He assured it would be the biggest cuts ever.

The president said his focus is now on the taxes. The administration is on the verge of doing something very historic, a Republican source told CNN.

The US leader appeared confident that he has the votes for his plan to pass Congress. Aside from taxes, he reiterated his agenda to address healthcare in order to promote “tremendous growth” and tackle the debt and deficit in the country.

As for the “bickering and feuding” with other Republican politicians, including Senators Bob Corker and John McCain, Trump said it sometimes helps because “it gets people to do what they’re supposed to be doing.” The US leader dismissed assertions from Democratic leaders that the Republican tax reform proposal will hurt the middle class.

Trump has hearkened back to Ronald Reagan's tax cuts of the 1980s in a USA Today op-ed. He declared that the era of economic surrender is now over. He wrote that taxes will be cut for middle-class families. The US, according to him, will "restore our competitive edge so we can create better jobs and higher wages for American workers.”

On Friday, House Speaker Paul Ryan said the House Republicans intend to propose a new income tax rate for high earners in addition to the 35 percent rate. The approved budget resolution for the 2018 financial year paves the way for the tax-cut package.

The White House said the bill's passage creates a pathway to unleash the potential of the American economy through tax cuts and tax reforms. As far as healthcare is concerned, Trump said a new attempt to overhaul US health care will come "a little bit later, probably in three of four months from now.”

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