Trump allies make push for tax cut plan in Congress

President Donald Trump’s allies urge congress to take over the tax reduction package and quickly extend the provisions of the tax law in Trump for the year 2017 to prevent them from expiration at the end of the year and causing tax bills to rise to Americans.

Economist Steve Moore, the co -founder of the committee to launch prosperity, spoke with Fox Business in an interview about the formation of the victory coalition to reduce taxes, a new alliance for taxpayers groups, business leaders, government organizations and popular activists who defend a draft law to reduce permanent taxes.

The group launches an advertising campaign aimed at helping to build support for Congress to take measures on the tax reduction package quickly to prevent the end of the 2017 tax cuts, which will actually be a tax increase for many American families.

“The most important priority is to make everything that was in the 2017 tax reduction in 2017, so it does not go away,” said Moore. “Most of these features will go away at the end of this year if we don’t make it. So this is a giant priority.”

Trump puts a plan to work with Republicans in Congress to reduce taxes significantly

President Donald Trump and Republicans in the Congress are looking to expand the policies due, ending under the 2017 tax discounts and jobs law. (Jabin Botsford / The Washington Post via Getty Images / Getty Images)

Moore said that the permanent tax cuts will ensure that American companies can compete with their peers abroad. The 2017 tax law reduced the corporate tax rate to 21 % of 35 %, which was one of the highest rates in the world, and also included the provisions that helped small companies.

“We want to make sure that the business tax rates are still low, so America is still competitive when we compete against China, Germany, Japan and other countries,” he explained. “There is a significant reduction in the small business tax, which has already benefited from 35 million men and women who run small companies, the backbone of our economy.”

Treasury Secretary Scott Bessin calls for tax discounts to be permanent

Most American families have witnessed a decrease in the total tax burden after the enactment of the law known as the TCJA Law), and Moore said that if the tax law returns to tax policies before TCJA, it will cost moderate American families thousands of dollars next year.

He said, “The medium family has provided about 3000 dollars in its tax bill every year from this tax reduction, and by the way, if this is not done, they will pay $ 3,000 a year in the public taxes next, and this is something that no one wants to see.”

Steve Moore is the co -founder of the committee to launch prosperity and helps lead the victory coalition to reduce taxes. (Fox News)

Moore said that the Trump administration and the Republicans in Congress need to make a age to reduce taxes, saying that the ideal goal is to sign the anniversary day law to encourage companies to stimulate more investment in America quickly and provide a boost to financial markets.

“If Trump makes any mistake in the first two months in his position, I think he did not make this first priority, and I think it should be because we are closer to getting this site, sealed and delivery, the sooner you will see the roar of the stock market to life,” he explained.

“You will see companies that use more workers ever. You will see a lot of investment. Trump talked about this, that we have already started to see some of these companies, hundreds and hundreds of billions of dollars that are invested here in the United States.”

Trump defines tax reduction plans, says the World Economic Forum, “Make your product in America.”

Moore continued to explain that the president “has a lot of political capital to accomplish this, and if he will happen, this really depends on the shoulders of the president – he is the person who can get this.”

“Once Trump interferes and praises his political muscle here and gets the Senate and the Council together, we sit on the table, and we accomplish this thing, and you will see a major economic boom in this country,” he said.

Republicans in Congress can pass the tax reduction bill on the sounds of the partisan line using the reconciliation process. ((Karen Blair Photography / AFP via Getty Images) / Getty Images)

It also retreated from the fears raised by the Democrats, as well as some hawks about the potential impact of reducing taxes on the federal budget deficit, on the pretext that the revenues increased in the wake of the Trump tax reduction bill.

“Many Democrats say this will be an increase of 4 trillion dollars in deficit if we pass this tax reduction. But this is a mistake, the same people who said this will cost the treasury $ 4 trillion, they are the same people, five or six years ago when we originally passed the bill, which he said would be a great loss in revenue.

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“When more people work, companies are more profitable, this is when you get tax revenues,” Moore said. “For those who are concerned about the budget deficit, and I am sure one of these … we need to make sure that we have a strong and strong economy because making people work is the best way to reduce our debts.”