President Donald J. Trump spoke before a crowd in the White House Grand Foyer yesterday to lay out—in concrete terms—what tax cuts would mean for the typical American household. “As we speak, Congress has reached an agreement on tax legislation that will deliver more jobs, higher wages, and massive tax relief for American families and for American companies,” the President said.
Here’s the President’s case by the numbers:
- $2,000+: What the typical family of four earning $75,000 will see in income tax cuts, slashing their tax bill in half
- $4,000: How much incomes are expected to rise across the board as a result of tax cuts on U.S. businesses
- 1/3: The amount one sample Ohio family in the 25-percent bracket and paying nearly $14,000 in taxes would reduce their yearly tax burden
- 3%: The level of growth the U.S. economy has already surged to—tax reform would take it even further
Bonus: “Tax bill is Christmas present Americans have been waiting for,” says Alfredo Ortiz
‘Transparency and engagement is the right way to go’
Recent history reminds Americans that cybersecurity will be at the top of everyone’s mind in the years ahead. In just one example, the 2015 U.S. Office of Personnel Management data breach saw the records of as many as 4 million people compromised.
In May, President Trump signed an executive order to strengthen the cybersecurity of the federal government’s networks and critical infrastructure. Yesterday, Chris Liddell of the White House’s American Technology Council and Jack Wilmer of the Office of Science and Technology Policy announced that a final report was ready.
“We certainly feel like transparency and engagement is the right way to go,” Liddell said. “The 50 actions articulated in the report will complement existing agency efforts to modernize citizen-facing services.”
Read Liddell and Wilmer’s blog post, and see the full web-friendly report here.
Coming today: The President’s 2018 regulatory agenda
Economic growth has climbed back above 3 percent, and the Administration’s deregulation push is a big part of the reason why.
President Trump will speak this afternoon about the progress made on the deregulation front in 2017 and highlight the publication of his “2018 Unified Regulatory Agenda.”
Here’s what the President will tell Americans:
- Agencies have substantially exceeded the White House’s “1 in, 2 out” directive that halts growth of the administrative state
- Net regulatory costs were flat to negative in 2017
- There will be a significant negative regulatory cost in 2018—with all agencies contributing to the effort
Photo of the Day
First Lady Melania Trump attends a Toy for Tots event | December 13, 2017 (Official White House Photo by Andrea Hanks)
POTUS TODAYToday, the President will have lunch with Vice President Mike Pence, Secretary of State Rex Tillerson, and Secretary of Defense James Mattis.
Later, the President will participate in an event regarding deregulation and meet with the Chairwoman of the Republican National Committee.