13.05.2025 21:41
U.S. President Donald Trump stated that Congress is on the verge of passing the largest tax cut in U.S. history, saying, "If we succeed, our country will be like a rocket."
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During his Middle East tour, U.S. President Donald Trump spoke at an investment forum while visiting Saudi Arabia.
"CHINA HAS AGREED TO OPEN TRADE WITH THE U.S."
Trump pointed out that they made a historic agreement with the UK last week and stated that they reached a "groundbreaking" agreement with China as well. Trump said that China has agreed to open trade with the U.S., stating, "They have to do this, so we will see what happens."
"IF WE SUCCEED, OUR COUNTRY WILL BE LIKE A ROCKET"
Trump emphasized that Congress is on the verge of passing "the largest tax cut in U.S. history," stating, "We think we are in a good position to achieve this, and if we succeed, our country will be like a rocket."
"MARKETS WILL RISE EVEN FURTHER"
Referring to the rise in U.S. stock markets, Trump argued that this will continue. Reminding that he was criticized five weeks ago for saying, "It's a great time to buy," he stated, "Now they are not criticizing me anymore. People should have listened, but it will go much higher." Trump mentioned that there is an "investment and employment boom" in the U.S., asserting that there has never been anything like it before and that there is no better place than the U.S. under his administration to "build a future and create wealth."
REPUBLICANS HAVE INTRODUCED THE TAX BILL
In the U.S. House of Representatives, Republicans had introduced a bill aimed at implementing the tax cuts promised by Trump during his election campaign. The goal is to pass the bill by the end of next week and present it for U.S. President Trump's signature by July 4.
The proposed bill includes increasing state and local tax deductions, eliminating taxes on tips and overtime income, and extending the duration of tax cuts that came into effect in 2017. The bill, which also includes spending cuts, plans to implement regulations such as reducing tax incentives for electric vehicles and clean energy.
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