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President Donald Trump remarks while signing Tax Cut Bill Also, comments on missile defense, continuing budget resolution

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

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