President Trump on Wednesday said his proposed tax cuts will benefit the middle class and the rich “will not be gaining at all” with his plan.
“The rich will not be gaining at all with this plan. We’re looking for the middle class and looking for jobs, jobs meaning companies – looking at middle class and jobs,” he said during a bipartisan meeting with lawmakers in the White House.
“I think the wealthy will be pretty much where they are,” he added. “If we can do that, we’ll like it. If they have to go higher, they’ll go higher, frankly.”
Trump has been spearheading a bipartisan effort to get lawmakers to sign on to a plan to reform taxes and even hosted a White House dinner on Tuesday for Democratic and Republican senators.
He’ll break bread Wednesday with Senate Minority Leader Chuck Schumer and House Minority Leader Nancy Pelosi and talk tax policy.
The president also signaled that he’s willing to stick with his desire to lower the corporate tax rate to 15 percent, even though Treasury Secretary Steve Mnuchin has been skeptical that it could go that low.
“I don’t know if we’ll be able to achieve that [15 percent rate], given the budget issues but we’re going to get this down to a very competitive level,” Mnuchin said Tuesday.
But Trump said the rate needs to be that low so the US can be competitive.
”It would bring us to the level where China and other countries are. And we will be able to compete with anybody – nobody will be able to touch us. So we would like to see 15 percent,” he said.