Trump talks regs, taxes at Farm Bureau
January 11, 2018
NASHVILLE — President Donald Trump will talk about regulations and taxes today when he speaks to the American Farm Bureau Federation, according to excerpts released by the White House:
Remarks to the American Farm Bureau Annual Convention
Excerpts as Prepared for Delivery
"The American Dream is roaring back to life.
"And we have just signed into law the most significant TAX CUTS and REFORMS in American History — a total of $5.5 TRILLION DOLLARS IN TAX CUTS, with most of those benefits going to working families, small businesses and FAMILY FARMERS.
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"Businesses across America have already started to raise wages, and more than 100 companies have already given bonuses to hundreds of thousands of workers as a result of these MASSIVE TAX CUTS. More than 1 million workers have already received a Tax Cut Bonus.
"And yet, every democrat in the House, and every democrat in the Senate voted against tax cuts for American farmers — but Republicans came together, and delivered HISTORIC RELIEF FOR OUR FARMERS AND OUR MIDDLE CLASS. And if the Democrats ever had the chance, the first thing they would do is try to raise your taxes.
Under the huge Tax Cut we just passed, Americans will be paying LESS IN TAXES and KEEPING MORE of their own money. We have lowered tax rates, nearly DOUBLED the standard deduction, and DOUBLED the child tax credit.
"Under this new law, the typical family of four earning $75,000 will see an income tax cut of more than $2,000—slashing their tax bill in HALF.
"American Businesses are going from the highest tax rate in the developed world last year, to one of the most competitive this year – from 35 percent, all the way down to 21 percent.
"Small and medium-sized businesses will receive massive tax cuts. They will be able to deduct 20% of their business income.
All American businesses, including American Farmers, will be able to deduct 100% of the cost of new equipment in the year you make the investment.
"And from now on, most family farms and small business owners will be spared the punishment of the deeply unfair ESTATE TAX, known as the DEATH TAX — so you can keep your FARMS IN THE FAMILY.
In every decision we make, we are honoring America's PROUD FARMING LEGACY.
"Years of crushing taxes, crippling regulations, and corrupt politics left our communities hurting, our economy stagnant, and millions of hardworking Americans COMPLETELY FORGOTTEN.
"But they are not forgotten ANYMORE.
"We are fighting for our farmers, for our country, and for our GREAT AMERICAN FLAG.
"As we put money back in the pockets of all Americans—including our farmers and ranchers, we are also putting an end to the regulatory assault on your way of life.
"For years, many of you have endured burdensome fines, inspections, paperwork, and relentless intrusion from an army of regulators at the EPA, the FDA, and countless other federal agencies.
"That is why I am truly proud to report that within our first 11 months, my administration has cancelled or delayed over 1,500 planned regulatory actions — MORE THAN ANY PRESIDENT IN HISTORY.
We have cut 22 regulations for every one new regulation."
"We are streamlining regulations that have blocked cutting edge biotechnology –setting free our farmers to innovate, thrive, and grow. Because we know that OUR FARMERS ARE THE FUTURE.
"We are removing harmful restrictions on forestry so you can log more timber, plant more trees, and EXPORT more renewable resources to other countries. F
–The Hagstrom Report