Senator David Perdue Discusses President Trump’s Tax Plan On Bloomberg TV
WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA) spoke with David Westin on Bloomberg TV’s Daybreak about President Trump’s efforts to overhaul the tax code to help middle-class families and make America more competitive.
Click here to watch or click on the image below.
Working Together: “The Senate Finance Committee has been working with President Trump and White House staff for nine months. We’ve been kept very informed on this. I am very excited about this. President Trump is moving this to his top priority.”
Putting Americans Back To Work: “Let’s put it in perspective, why do we want to grow the economy so badly? We want to put people back to work, improve the standard of living for our middle-class, get more people involved in this economic miracle in America.”
Lowering Rates: “If we get the corporate tax rate to 20 percent, do away with the deductions that keep us from having a level playing field, get rid of the repatriation tax, and simplify our individual tax code, President Trump knows instinctively this will grow the economy.”
Bringing Profits Back: “I have lived this. I ran a Fortune 500 company that had un-repatriated profits overseas. That’s the big issue. I would bring those profits back and invest here in America. We’ve got the best workers in the world. We have the rule of law, innovation, and capital formation. Those are all the ingredients that cause growth.”
Impacting The Economy: “Right now consumer confidence is at a 16 year high and that’s being reflected in demand which has been fairly strong in the third quarter. The reason we have to get tax done this year is so we can have some impact on holiday season consumption next year.”
Leveling The Playing Field: “In 1986, when we lowered our corporate tax rate, we had the third lowest corporate tax rate in the world. Today, we are absolutely the highest. When you look at the rest of the world, they caught up.”
Investing In The Economy: “In the first few years, there is no question this is an investment we’re making by lowering this corporate tax rate. But, look at what’s happened in the rest of the world and look at what happened here back in the 80s when we did it before. The Reagan tax cuts, in the early 80s, set the tone for the economic miracle a decade later. What we have now is the same opportunity.”
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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