Asia tech stocks slide tracking Wall St losses amid AI doubts, govt. uncertainty
Investing.com -- President Trump, accompanied by Speaker Johnson, addressed the unity within their party and the potential for significant tax cuts in comments to reporters on Capital Hill. The President emphasized the unity within their party, stating that it was stronger than ever before.
He also highlighted the robust state of the economy, mentioning that $5.1 trillion had been extracted from the Middle East, leading to unprecedented levels of investment. He stated that this economic boost was just the beginning and expressed optimism for the future.
The President also praised the work of John Thune in the Senate and mentioned a forthcoming bill, which he referred to as "one big, beautiful bill." He stated that this bill would include significant tax cuts and incentives, as well as reductions in regulations.
President Trump also expressed concern over legislation that he claimed had opened U.S borders, allowing for an influx of criminals from around the world. He questioned who had signed this legislation, suggesting that it had not been President Biden but rather, radical left individuals using an autopen.
The President also addressed the issue of tax cuts, stating that the proposed cuts were bigger than any previous ones, including those implemented during Ronald Reagan’s presidency and his own. He added that these cuts were being extended and increased, making them the largest in the history of the country.
He also warned of the potential for a 68% tax increase if the proposed tax cuts were not implemented. He claimed that any Republican voting against the tax cuts would not remain in the party for long.
He reiterated that he was a cheerleader for both the party and the country and expressed optimism for the upcoming discussions on the proposed tax cuts. He also clarified that the only cuts being considered were those related to waste, fraud, and abuse, specifically within Medicaid. He assured that there would be no changes to Medicaid, Medicare, or Social Security.