Senator David Perdue Discusses Historic Tax Cuts On Fox News’ Sunday Morning Futures
WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA) spoke with Maria Bartiromo on Fox News’ Sunday Morning Futures With Maria Bartiromo about the historic action the U.S. Senate took to fix the tax code, help middle-class families, and make America more competitive again.
Click here to watch or click on the image below.
Making History: “The U.S. Senate passed a historic tax bill, the first one since 1986. I'm very excited because this will be so stimulative for our economy. Our workers will become competitive again and capital formation is coming out of the woodwork to support this economy. I’m extremely pleased we got this done.”
Growing The Economy: “The maligned Joint Committee on Taxation says you only have to grow two-tenths of 1% in our GDP to more than pay for these tax cuts and the Congressional Budget Office estimates four-tenths of 1%. President Trump said job one is growing the economy, by rolling back regulations, going after our energy potential, which we've done, and now fixing the tax code. What we've got is a situation where this economy is going to grow.”
Back In Business: “As a business guy who lived and worked around the world, I have full confidence this tax package is going to be so stimulative. The rest of the world woke up Saturday morning and took a deep breath because they were so afraid we weren't going to do this. America is back in business globally.”
Relief For Working Families: “The benefit for individuals is not to be ignored. Sixty-eight percent of the tax cuts in this bill go to individuals. A family of four, a couple with two kids, making a median income of $73,000 will get a 60% tax cut. A single mom, with one child, making $41,000 gets a 75% tax cut. This is a great day for the middle class.”
Bringing Back Investment: “This is capitalism. Capital flow is very important in the generation of jobs and economic growth and that's what happens whether it's in dividends or training. We’ve been in a recession now for over eight years. This is the lowest period of economic growth in our history. What we're going to find is a lot of capital will come back to our shores because of the details of this tax package.”
Final Package: “In many ways over the last week, the Senate tax plan began to move toward the House of Representatives’ plan which is a good thing. In fact, some are saying maybe the House could go ahead and vote on the Senate version. We're not asking for that yet but it got so close that I think that's a possibility.”
Clearing Up Misinformation: “Democrats know that 68% of these tax cuts are going to individuals. We're making America competitive again with the rest of the world, by lowering the tax rate to 20%. The person who is going to benefit the most from this tax plan is the person that gets a job.”
Senator Perdue is the only Fortune 500 CEO in Congress and is serving his first term in the United States Senate, where he represents Georgia on the Armed Services, Banking, Budget, and Agriculture Committees.
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