Jan 4, 2018
00-00
good morning everybody thank you very
00-01
much for being here and Merry Christmas
00-03
Happy New Year have great holidays we
00-07
are going to sign some very important
00-09
things today
00-10
one is a continuing resolution that very
00-16
importantly gives us the right and we
00-19
are ordering four billion dollars worth
00-21
of missile defense equipment and
00-24
missiles themselves very important
00-27
top-of-the-line best in the world we
00-30
make the best military product in the
00-32
world nobody is even close so we're
00-35
ordering four billion dollars worth of
00-36
missile defense and that will be done by
00-40
signing right here and also by notifying
00-44
the Speaker of the House and president
00-48
of the Senate designating the missile
00-50
defense as emergency defense fund so
00-53
it's four billion dollars for that and
00-56
seven hundred million dollars for
00-59
various other military forms of
01-02
equipment and I'm very honored to be
01-04
doing that our military has been doing a
01-05
fantastic job in so many ways with Isis
01-07
and everything they're touching lately
01-10
has been working out so we're signing
01-12
that
01-23
this is the letter to Mitch McConnell
01-28
and separately to Paul Ryan authorizing
01-32
that having to do with missile defense
01-52
okay
02-00
very important so that's being done
02-02
today and that's going to be sent out
02-04
and then when I watched the news as you
02-07
know we had the largest tax cuts in our
02-10
history just approved and I was gonna
02-14
wait for a formal signing sometime in
02-16
early January but then I watched the
02-18
news this morning and they will say will
02-20
he keep his promise will he sign it by
02-22
Christmas you are one but will he sign
02-26
it by Christmas and I called downstairs
02-29
I said get it ready we have to sign it
02-31
now
02-31
we're gonna wait till January 7th or 8th
02-34
and do a big formal ceremony but every
02-37
one of the networks was saying will he
02-39
keep his promise will he sign it for
02-41
Christmas before Christmas and so I
02-44
immediately called I said let's get it
02-46
ready as you know three point two
02-48
trillion dollars in tax cuts for
02-51
American families including the doubling
02-53
of the standard deduction and the
02-55
doubling of the child tax credit the
02-59
typical family of four earning $75,000
03-02
we see an income tax cut of more than
03-05
two thousand dollars many much higher
03-08
than the slashing their tax bill in half
03-11
and they're gonna start to see that
03-14
because we're signing today they're
03-16
gonna start to see that in February the
03-18
numbers will speak one of the big things
03-20
that happened you have some great
03-22
companies I want to thank AT&T; who
03-24
actually was the first out of the box
03-26
and Boeing and Sinclair and Wells Fargo
03-29
and Comcast even though they owned NBC
03-31
which is not so nice to the presidency
03-35
or the president but Comcast also they
03-39
all have made tremendous contributions
03-42
to their employees and tremendous
03-45
contributions to spending money in this
03-47
country because of the tax bill and they
03-50
all said it it's because of the tax bill
03-52
so they're making tremendous investments
03-54
that means jobs means a lot of things
03-57
and we're very happy so that's AT&T;
03-59
Boeing Sinclair Wells Fargo Comcast and
04-03
now many other companies as you
04-05
in fact just this morning I see three
04-06
more companies came on friend of mine
04-09
Bob Kraft called me last night he said
04-12
this tax bill is incredible
04-14
he owns the New England Patriots but
04-16
he's in the paper business too and he
04-19
said based on this tax bill he just
04-21
wanted to let me know that he's going to
04-24
buy a big plant in the great state of
04-27
North Carolina and he's going to build a
04-30
tremendous paper mill there or paper
04-33
products plant and I've had many calls
04-36
such as that people that are
04-39
entrepreneurs people in business they're
04-41
going out and they're going to buy
04-43
frankly factories that are closed
04-45
abandoned and now they're not going to
04-47
be abandoned and they love this is
04-49
having an even bigger impact faster than
04-52
I thought the corporate tax rate as you
04-54
know will be lowered from 35 to 21
04-57
percent that means that more products
04-59
will be made in the USA a lot of things
05-03
are going to be happening in the US and
05-04
we're going to bring back our companies
05-06
that they've already started coming back
05-07
I think they had certain confidence in
05-10
me they figured we're going to get this
05-11
done but they have already started
05-13
something very important to me the
05-15
family farmers and small business owners
05-18
who lost their business because of the
05-20
estate tax most of them won't have any
05-22
estate tax to pay it will be a great
05-26
thing for their families you can leave
05-27
your farm to your family you can leave
05-30
your business your small business to
05-31
your family not even so small because
05-33
the numbers are pretty big here so
05-36
they'll be exempt from having to pay
05-38
estate tax which will be tremendous
05-40
they'll keep their farms and their
05-41
businesses in the family businesses will
05-44
be able to deduct 100 percent of the
05-46
cost of their capital investments in the
05-48
year the investment is made that's
05-50
called expensing and to do one year
05-53
expensing I think is going to be one of
05-55
the biggest things in the bill frankly I
05-56
think people are going to go out and
05-58
absolutely go wild over expensing Bob
06-01
Kraft mentioned that last night in this
06-03
telephone call the the fact that they
06-06
can expense - when you're expensing is a
06-08
fantastic asset historic small business
06-12
tax cuts and pastures now are made
06-15
really really good for the business
06-17
owner you know they're high
06-18
people I see it on television I'm
06-21
reading about it all over where people
06-22
are hiring a lot of people right now to
06-24
go to work the small business tax cut
06-27
and the passages are now really
06-30
incentivizing people we're going to
06-32
bring back probably four trillion
06-34
dollars from overseas nobody knows the
06-37
exact number but it's massive it'll be
06-39
over three trillion it could be five
06-40
trillion but it's a tremendous amount of
06-42
money that was caught overseas that the
06-45
bureaucracy plus the tax laws didn't
06-48
allow it to reasonably be brought back
06-50
into our country so we think at least
06-53
four trillion dollars is going to be
06-55
brought back and if you look at that
06-59
it's going to be brought back right
07-01
under the code this is something that
07-03
Republicans wanted for years and
07-05
Democrats wanted two years and yet it
07-07
never got done who would object to
07-09
trillions of dollars being brought back
07-11
into our country nobody but it never got
07-14
done now it's being done and the bottom
07-17
line is this is the biggest tax cuts and
07-20
reform in the history of our country
07-21
this is bigger than actually President
07-24
Reagan's many years ago I'm very honored
07-28
by it in addition we have Anwar we're
07-31
opening up and war for drilling they've
07-33
tried to get that for forty years
07-35
they've tried to get that even during
07-36
the Reagan administration they could
07-38
never get it that alone would be a big
07-40
bill if that ever happened but that's
07-43
even part of this and we have of course
07-47
the individual mandate which is a very
07-51
unfair and very unpopular provision as
07-53
you know in Obamacare essentially I
07-57
think it ultimately leads to the end of
07-59
Obamacare it's essentially I think
08-01
Obamacare is is over because of that and
08-04
we're going to come up with something
08-05
that's really going to be very good but
08-07
the individual mandate was very unfair
08-09
because you're basically saying pay for
08-12
something in order not to have to get
08-14
health care so you're paying you're
08-16
paying not to have to have health care
08-19
it was very unfair many people thought
08-22
it should have been overturned in the
08-23
supreme court didn't quite make it
08-25
almost but didn't quite make it but now
08-27
we're overturning the individual
08-28
most unpopular thing in Obamacare very
08-31
very unfair so this is the bill right
08-35
here and we're very proud of it it's
08-38
gonna be a tremendous thing for the
08-40
American people it's gonna be fantastic
08-42
for the economy it's going to keep
08-45
companies from leaving our shores and
08-48
opening up in other countries they are
08-51
very disincentivized to do that they are
08-54
there's not a lot of lot of not a lot of
08-56
not a sense to do that you do that and I
08-59
don't think you're going to be running
09-00
the company very well so what's
09-02
happening is we're going to sign this
09-04
this is a little picture of it it fits
09-08
nicely in the box I said take it out of
09-10
the box because people have to say and
09-12
all of this everything in here is really
09-17
tremendous things for businesses for
09-21
people for the middle class for workers
09-24
and I consider this very much a bill for
09-26
the middle class at a bill for jobs and
09-29
jobs are produced through companies and
09-32
corporations and you see that happening
09-33
corporations are literally going wild
09-36
over this I think even beyond my
09-38
expectation so far beyond my
09-40
expectations so I'll sign this today
09-43
rather than having a very big formal
09-45
ceremony in two weeks when we were going
09-48
to do it because I didn't want you folks
09-51
to say that I wasn't keeping my promise
09-53
I am keeping my promise I am signing it
09-55
before Christmas I said that the bill
09-58
would be on my desk before Christmas and
10-00
you are holding me literally to that so
10-03
we did a rush job today it's not fancy
10-05
but it's the Oval Office it's the Great
10-08
Oval Office and just to conclude a
10-11
country's doing very well we
10-13
tremendously cut regulations legislative
10-17
approvals for which I've given no credit
10-20
in the mainstream media we have I
10-22
believe it's 88 which is number one in
10-26
the history of our country second now is
10-28
Harry Truman Harry Truman had more
10-30
legislative approvals than any other
10-32
president and a record long held and
10-37
beat him on legislative approval so for
10-40
which I get no credit a lot of people
10-41
say he needed this because he has had no
10-44
legislative approvals
10-45
well if you look at VA accountability
10-48
act and so many other bills having to do
10-50
with the VA having to do with the
10-52
military having to do with many things
10-53
we have more legislative victories than
10-57
any other president not including this
11-00
but this is the capper because this is
11-02
again the biggest tax cut biggest reform
11-05
of all time so it's an honor to have you
11-10
with us and we will sign this right now
11-12
this is something I'm very proud of
11-15
great for our country great for the
11-17
American people thank you all
11-32
so we went through the whole thing but
11-35
this is basically what it is
11-36
let's you know
11-45
and I want to thank some people in
11-49
particular that aren't here because
11-51
again we expected a formal ceremony in
11-53
two weeks but Mitch McConnell has been
11-55
fantastic worked so hard we would speak
12-01
at 3-00 in the morning and 2-00 in the
12-02
morning and we would speak whenever we
12-04
had to speak but do you work so hard and
12-07
the exact same thing can be said for
12-08
Paul Ryan they are very proud of this
12-13
and we're already seeing the results and
12-16
I as I said long before long ahead of
12-18
schedule Paul Ryan Mitch McConnell thank
12-22
you very much Orrin Hatch the chairman
12-24
made a beautiful speech the other day in
12-28
front of the White House absolutely
12-31
brilliant beautiful speech and we
12-32
appreciated it and I appreciate it it's
12-34
hard working Kevin Brady we I don't
12-37
think he slept for months it's almost
12-39
like that's all he did was this Mike
12-42
Enzi senator and Diane black Rob Portman
12-47
a group of Rutte Rob Portman Rob works
12-50
so hard so knowledgeable on the subject
12-52
Pat Toomey likewise Tim Scott likewise
12-55
John Thune likewise these people work so
12-58
hard and I don't know if they given the
13-00
proper credit and the whole Senate when
13-03
I say the Senate unfortunately the
13-06
Republicans in the Senate Democrats
13-10
don't like tax cuts they want to raise
13-12
your taxes they don't want to lower your
13-14
taxes they want to raise your taxes and
13-17
they want to spend money foolishly on
13-18
things that we we don't need in many
13-21
cases so we're cutting taxes we're
13-25
taking care of our military and we're
13-27
taking care of people and we're really
13-29
doing a job one job so these folks have
13-32
been so fantastic that I had to call
13-34
them and plenty of others believe me
13-36
Republicans in the House and Republicans
13-39
and the Senate have been incredible so
13-42
this is what we
13-44
we had it it was all set to go as soon
13-46
as I got back from Christmas where we'll
13-49
be working in Florida I'll be working
13-52
very hard during that Christmas because
13-53
we have many things with talking about
13-55
including North Korea including a lot of
14-00
things happening in the Middle East as
14-01
you know we've made tremendous strides
14-04
obviously in Syria with Isis we've taken
14-07
back virtually all of the Caliphate all
14-10
of the land same thing in Iraq and we're
14-13
making tremendous strides at sort of the
14-15
unwritten story right now but since my
14-17
speech on Afghanistan we're making
14-19
tremendous progress tremendous strides
14-21
we've opened it up and it's a whole
14-23
different world in Afghanistan I can
14-25
tell you then so I'll be working very
14-27
hard over the holidays again I want to
14-31
wish you a very Merry Christmas I have
14-32
some beautiful pens over here and
14-35
because all of these folks are either
14-38
continuing to work down the road or
14-42
getting ready to leave and I'm sure
14-44
they'll be working very hard also I
14-46
think I'm probably going to hand some of
14-49
them to depress this the media would any
14-51
of the media like any look at these
14-52
camera guys but I think we'll do that so
14-55
we have them many of you have worked
14-59
very hard many of you have worked very
15-02
very fairly and we really appreciate
15-04
that so here you go folks you want the
15-06
box with it or not huh
15-10
to sell this tax have to travel too much
15-14
to sell it
15-16
I think it's selling itself it's
15-17
becoming very popular but I think it'll
15-20
really you'll see something on February
15-22
1st when they open up the paycheck
15-24
that's when you're gonna start to see it
15-25
because by signing it now it kicks in
15-28
for this year remember if we didn't make
15-30
a certain date it wouldn't kick in until
15-33
next year meaning the following year 19
15-36
and I wasn't happy with that so we
15-38
worked very very hard to make sure it
15-40
was this year even language originally
15-42
said the corporate would kick in in 19
15-44
but we didn't do that we we haven't kick
15-46
in and now but we had a sign so I don't
15-49
think we're gonna have to do much
15-50
selling I think the corporations that
15-52
are giving billions and billions of
15-53
dollars away to their workers and many
15-56
more are coming I think that's really
15-58
what's selling this maybe better than
16-00
anybody could including myself but I
16-02
think come February when they open their
16-04
checks and they see wow what happened to
16-07
have a lot more money in here I think
16-09
that's really going to be something very
16-10
special so have a great holiday folks
16-13
some of you folks take I in particular
16-16
like the boom holders they were so nice
16-18
to me the other day right and the
16-20
cameramen and the captain mr.president
16-23
education note Democrats have supported
16-26
this tax cut legislation
16-27
will they regret it I think the
16-29
Democrats will really regret the
16-32
Democrats already regret it you know
16-34
they have their typical thing it's for
16-36
the rich they know that's not true and
16-37
they've been called out on it by the
16-39
media actually but the Democrats very
16-42
much regret it they wanted to be a part
16-44
of it just doesn't work out but I really
16-46
do believe when I said on social media
16-48
today I read I really do believe we're
16-51
going to have a lot of bipartisan work
16-54
done and maybe we start with
16-56
infrastructure because I really believe
16-58
infrastructure can be bipartisan
17-00
we've spent seven trillion dollars in
17-02
the Middle East
17-04
not to mention all of the lives and all
17-06
of the heartache and it's so sad seven
17-09
trillion dollars it's time for us to
17-12
rebuild our country thank you very much
17-21
thank you would have started with
17-29
infrastructure at the beginning of this
17-31
year would that up sort of set the tone
17-32
differently well we're gonna get
17-34
infrastructure infrastructure is the
17-35
easiest of all we're very well in our
17-38
way we've essentially Obamacare you know
17-42
the individual mandate is a very big
17-43
factor in this bill frankly a lot of
17-45
people don't talk about it because the
17-46
tax cut is so forth but infrastructure
17-49
is by far the easiest people wanted
17-51
Republicans and Democrats we're gonna
17-53
have a tremendous Democrat support and
17-54
infrastructure as you know I could have
17-57
started with infrastructure I actually
17-58
wanted to save the easy one for the one
18-01
down the road so we'll be having that
18-03
pretty quickly thank you all very much
18-05
every
18-08
thanks guys but you think we'll help you
18-15
think we'll help ya you know one thing I
18-18
really learned as I learned had got to
18-20
know and became very friendly with the
18-22
people in the house the people in the
18-25
Senate both Republicans and Democrats
18-27
when I came you know I didn't know too
18-30
many I was very politically active but I
18-31
didn't know too many I think the fact
18-33
that I become friends with so many of
18-35
the names that I just read off in so
18-36
many of the Senators so many of the
18-39
congressmen and women I think that's a
18-41
huge factor I can call anybody now I
18-43
know every one of them very well and I
18-45
understand the legislation very well so
18-48
you know it's been a process it's been a
18-49
great for us it's really beautiful but I
18-51
do believe I do believe that the fact
18-54
that I have gotten to know so many of
18-57
these people and many of these people
18-59
have to say not saying off what I'm
19-01
saying many of these people are great
19-03
people that truly love this country so I
19-06
think that helps and I think you'll see
19-09
that in this legislation