“I think the greatest benefit is going to be for jobs and the middle class,” Trump told reporters Saturday on the South Lawn prior to his departure for Camp David.
His comments followed congressional Republicans‘ release Friday evening of a thousand-page tax bill that includes deep tax cuts for corporations and tax breaks for the wealthy while offering what most economists say are more limited benefits for middle-class Americans.
When asked Saturday why tax cuts for individuals are temporary while those for corporations are permanent in the bill, the president said it would be up to the next administration whether to extend the individual tax cuts.
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“What will happen is, at the end, whichever the administration is in years from now, they’ll make it and maybe can even make it more generous if we can get the economy like it should be,” Trump said.
Asked by ABC News whether he believes passing the tax bill is a “done deal,” the president was optimistic and slammed Democrats for what he called “standard soundbites” against the GOP plan.
“The Democrats have their soundbites, their standard soundbites, before they even know what the bill is all about, they talk about for the wealthy,” Trump said. “This is going to be one of the great gifts to middle-income people of this country they have ever gotten for Christmas.”
After Trump spoke on the phone Friday with Republican Sens. Marco Rubio of Florida and Bob Corker of Tennessee, who had both expressed doubts about key components of the tax bill, the two senators announced their support, clearing the way for the president’s first major legislative victory since taking office.