Pres. Trump thank you very much. Thank you all. Thank you very much. Picking up a lot of Television Time but thats ok. Its great to be here with the National Association of manufacturers. I especially want to thank your president and your chairman along with all of the members of congress that are here today. They are working hard, i will tell you that. I would like to begin by sending our thoughts and prayers to the people of puerto rico who have been struck by storms of historic and catastrophic severity. People have never seen anything like this. Weve undertaken a massive federal mobilization to assist puerto rico, including the presence of over 10,000 federal personnel, including 5000 u. S. Military and National Guard personnel, led by a very strong and talented threestar general. All appropriate departments of our government from Homeland Security to defense are engaged fully in the disaster and effort, and recovery probably has never been seen for Something Like this. This is an island. , big water. Y water ocean water. Closely coordinated with the territorial and local governments. They are totally, unfortunately, unable to handle this on theirhic crisis own. Totally unable to. The police and Truck Drivers are substantially gone. They are taking care of their families, and largely unable to get involved, largely unable to help. Therefore, we are forced to bring in Truck Drivers, security, and many other personnel by the thousands. We are bringing them onto the island as we speak. Weve never seen a situation like this. The electrical grid and other infrastructure, they were already in poor shape. And re at their lights at their lifes and prior to the hurricanes. Virtually everything has been wiped out. We will have to start over again. Literally starting from scratch. Ultimately, the government of puerto rico will have to work with us to determine how this massive rebuilding effort will end up being one of the biggest it will be funded and organized. What we would do with the tremendous amount of existing debt already on the island. Not rest, however, until the people of puerto rico are safe. These are great people. We want them to be safe and sound and secure, and we will be there every day until that happens. Likewise, we are working closely with the Virgin Islands on the disaster recovery, and that effort is going very well. Both governors, i have to tell you, of puerto rico and of the Virgin Islands, has been extremely good. They are working so hard. But there is nothing left. Its been wiped out. The houses are largely flattened. The roads are washed away. There is no electricity. The plants are gone. Theyre gone. Its not like, lets send a crew to fix them. Youe to brandnew have to build brandnew Sewage Systems right there. Theres never been anything like this. There remains a lot of work to theand we will work with folks that were working with right now, they are trying really hard. But nobody has ever seen anything like it. At thehere today National Association for manufacturers to discuss our vision for americas economic revival, and to celebrate the people whose vision and products stocked our shelves, fill our homes, and enrich our lives. I want to express my special gratitude to the incredible workers on stage. Congratulations. [applause] they are the ones, and millions out there they are not as good as you, but they are very good. But the millions out there whose dedication and drive makes this country run. Its a great honor to be here with the men and women whose creations power of our communities and protect our nation. We are all here today for the same reason. We believe in that beautiful that hasnt been used so much over the last three decades. Made in the usa. [applause] it is a phrase that fills our hearts with pride. They embody our skill, grit, and drive the skill, grit, and drive of the american worker. The single best tribute to our worker can be found in the unmatched quality and craftsmanship of the products they bring, from the blueprint to the storefront. Made in the usa is a global of unrivaled excellence. My administration is working every day to lift the burdens on our companies and on our workers so that you can drive, compete, and grow. And at the very center of that giant, beautiful, massive, the biggest ever in our country, tax cut. [applause] for decades, the policy of washington dc on the subject of manufacturing has been a policy best summarized in one word. Surrender. They surrendered. Under my administration, the era of economic surrender is over. The rebirth of american industry is beginning. America is winning again, and america is being respected again. You see that happening all over. Ecb five plants that were announced just recently. You see the five plants. People want to be back into the country. Other countries are bringing their companies, sending their companies and. They all want to be back. Thats great for our worker. Every front, in every way, on every policy, we are guided by the same economic goal to keep jobs in america, to bring jobs to america, to create real prosperity for america, the country that we love. That is why we have listed the restrictions on american energy, ending the war on coal, approving the keystone xl and Dakota Access pipelines. I did that immediately. First couple days, 48,000 jobs, and everyone is happy. Reversing the epa intrusion into your business and into your lives. Instead, we are returning the epa to its core mission. Crystal clean water. Thats what we want, clean air and clean water. We are fighting to create fair and reciprocal trade for American Companies. And the word reciprocal is so important. Lifting barriers to our exports. Cracking down on companies that cheat, of which there are many. Ensuring a level Playing Field for our Great American workers and our Great American companies. Because when our workers have a level Playing Field, absolutely no one can beat us. [applause] right . Weve also taken historic action to protect our manufacturing and Defense Industrial base. My administration has ordered the firstever complete review of the Manufacturing Technology and supply chains we need to protect our country. We cannot have National Security without economic security. Americanr unleash enterprise, weve taken unprecedented steps to remove job killing regulations that sap the energy, creativity, and dynamism from our country. We are cutting regulations at a pace that has not even been thought of before. Not even thought of. This is a groundbreaking campaign and it involves every across ourand agency government. We are requiring every federal manager to systematically review , and then remove, the regulations that destroy your jobs, hamstring your companies, and undermine your ability to compete. We need some regulations. But we dont need 35 regulations to take care of one item. We dont need to go through nine different agencies to get something taken off. Want beautiful, fast, efficient regulation that works. [applause] thank you. Already, we are seeing the results of an Economic Policy that puts america first. Lowployment is at a 16 year. Wages are rising. The stock market is soaring to record levels. The s p hit a record high just this morning, as i was coming over. Gdp growth hit over 3 last quarter it was just adjusted yesterday and is now at 3. 1 . A number that hasnt been seen in a very long time. A number that is way ahead of schedule. [applause] and i believe we are doing better this month by, unfortunately but, unfortunately, having the hurricanes hit texas, florida, louisiana, and other locations, with the kind of money were spending on puerto rico and Virgin Islands, its going to be a bit of a hit. But we are doing extremely well this quarter despite the hurricanes. Manufacturing confidence is at an alltime high. America is finally back on the right track. Our country and our economy cannot take off like they should we transform americas outdated, complex, and extremely burdensome tax code. It is a burden on our country. [applause] we have a once in a Generation Opportunity to pass tax reform that is progrowth, projobs, proworker, profamily, and proamerican. Our current tax code Punishes Companies for doing business in the United States, and encourages them to leave. Thats what has happened for so many years. Of the reasons, probably the primary reason, that companies are leaving our country. And firing all those people they are not bringing the jobs with them, they are giving other countries those jobs. Firing those great people. Thats stopping. ,t has already started to stop nine months ago. But its stopping right now. We need a tax system that encourages companies to stay in america, grow in america, and hire in america and in america. [applause] for several months, my administration has been working closely with congress to develop a framework for tax reform that will deliver exactly that. More jobs, higher pay, lower taxes for middle income families. And american businesses of all sizes. Businesses that create jobs. We unveiled an incredible framework on wednesday. In indiana, a great state, and i would like to share with you four Core Principles of our plan. First, we will cut taxes for every day, hardworking americans, and we will cut them substantially. The first framework, 12,000 for a single individual, and the first 34,000 for a married couple, the first 24,000 for a married couple, will be nearly taxfree. We will be doubling the income taxed at a rate of zero. Above that amount, income will be taxed at three rates. 12 , 25 , and 35 . We will also substantially increase the Child Tax Credit to save working families even more money, because we know the most important investment our country can make is in our children. Our firm work also provides relief to those who care for an a 500oved one through tax credit, something that everybody has been wanting so badly for so long. By eliminating the tax breaks and special interest loopholes that primarily benefit the wealthy, our framework ensures the benefits of tax reform go through the middle class, not the highest earners. Weve also Given Congress the flexibility to add an additional top rate on the very highest income earners to provide even more tax relief for every day working people. Second, our framework will make the tax code more simple. Fair. Easy to understand. Businessesmilies and reached billions of dollars and tens of billion dollars on excruciating paperwork and compliance every single year, and it never ends. Framework, the vast majority of families will be able to file their taxes on a single sheet of paper. We are also repealing the unfair and complicated alternative minimum tax, or amt. It requires many people to calculate their taxes two different ways and pay the the two amounts. We are closing loopholes, reducing burdens, and replacing. Onfusion with total clarity as part of this simplification, we are also going to protect millions of Family Businesses by horrible, crushing, and unfair estate tax, also known as the death tax. Ask applause [applause] you means, for those of with small and familyowned businesses, your family wont have to sell the business in a fire sale just to pay a very high and unfair tax. Your families can continue to run your businesses with love and dedication, and remembrance of you. We will protect our manufacturers and our workers and make taxes simple, easy, and fair. For all americans. Its about time. [applause] we will cut taxes on american businesses to restore our Competitive Edge and create more jobs and higher wages for the american worker. The last major tax reform was passed more than 30 years ago in 1986 with a large bipartisan majority. That sounds so nice. That sounds so nice. Wouldnt that be nice . Come on. Was ourx bill business tax rate to make america globally competitive went through the roof. The plan works, the jobs and industry boomed, other countries saw our success and copied our playbook. Adoptedign competitors tax rates much lower and much more competitive than our own. In fact, when it comes to business tax, we are now dead last among developed nations. We pay the highest tax of any nation in the world. Our rate is the least competitive rate there is. Our business tax rate is 60 higher than our average economic competitor. Think of that. And then you say, how do you compete . In many cases, you do not. Our companys leave. They go to other countries. It is a massive tax with every product made in america, giving Companies Like germany, canada, japan, south korea, china, and mexico, not to mention so many others, a massive head start over american industry. From dead to go last to pretty much the front of the pack. [applause] pres. Trump we will not be the lowest, but we will be getting pretty close. Under our framework, we will dramatically cut the business tax rate so that American Companies and workers can beat our foreign competitors. [applause] pres. Trump we will cut the business tax rate from 35 all , below ourn to 20 average competition by far. A revolutionary change, and the biggest winners will be everyday working families, as jobs start pouring into our country. [applause] pres. Trump when companies leave our shores, it is American Workers who get hurt. Hey get fired when Companies Stay in america and moved to america, it is our wonderful workers who reap the benefits and the rewards. For the majority of american manufacturers to file taxes as sole providers, as corporations, will cap ships, we your tax rate, unlike the. Resent, of 25 that is your maximum rate. [applause] pres. Trump this will be the top lowest top marginal income tax rate for small and mediumsized businesses in more than 80 years. The lowest in 80 years. [applause] pres. Trump and it will be rocket fuel for our economy. To further help our companies to compete, for the next five years our framework will allow you to fully write off the cost of new equipment in the year you buy it. Think of that one. To me, that is so good. [applause] pres. Trump you do not take it over many years, you take it immediately upon when you buy it. That is something people have never seen before, and it will be great. It will be truly great. That means more production, more investment, and far more jobs. Productst to make more and say made in america, because that is what we want. Made inthe usa or america, we have to reduce factors on businesses that produce in america. That is exactly what we are going to do. Fourth and finally, our framework you have to remember, you see what is happening with companies offshore. It encourages American Companies to bring back trillions of wealth marked overseas. It Punishes Companies were keeping their headquarters in america. It discourages wealth them from bringing back the profits they earn overseas. We are going to reverse that. Right now, we have at least 3 trillion overseas. Have beenl you, i following this for six years. Republicans and democrats have money said we want that to come back. So they all agree, and they still never got it done. We are going to bring everybody together and get that done. [applause] pres. Trump we will eliminate the penalty on bringing back the future earnings and bringing them back to the United States in full. We will impose a one time low tax on money currently parked one team, one people, and one Great American family. This can be remembered as the moment we took control of our destiny and chose a future of american patriotism, prosperity, and pride. With your help, and your voice, we will bring back our jobs, we will bring back our wealth, and for every citizen across this our, we will bring back Great American dream. Thank you, god bless you, and god bless america. Thank you everybody. Thank you. [applause] the president headed back to the white house for lunch with the Vice President and florida gov. Rick scott. Afternoon, President Trump heads to his resort in bedminster, new jersey this weekend. His tax plan is available on our othere at www. Cspan. Org, video is there as well. We got a preview from the tax plan of the tax plan from a capitol hill reporter. This is a budget reporter for cq roll call. Steve scullys returns to the u. S. House, and boy, does he have his work cut out counting votes next week at the house takes up the republican budget. They passed this out of the Budget Committee in the summer. What took it so long to get to the house floor . The build typically passes with only republican support, ch means you need at the the vast majority of the Republican Caucus in the beginning, and we heard from the