Speaking at a conference of global financiers hosted by Saudi Arabia's sovereign wealth fund in Miami on Feb 19, US President Donald Trump said he is working with Republicans in the Congress to reduce taxes for individuals and companies.
He also said he is considering returning 20% of savings identified by the Department of Government Efficiency (DOGE) to Americans.
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He also said he is considering returning 20% of savings identified by the Department of Government Efficiency (DOGE) to Americans.
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
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NewsTranscript
00:00One day, very soon, our country will have the greatest economy in the history of the
00:26world because we once again have a president who puts America first, and we put America
00:32first, and your country should put your country first.
00:34You know, I tell your leaders, and some of the leaders are in this room right now, you've
00:37got to put your country first.
00:39Whether it's Saudi Arabia, whether it's something else, you've got to put your country first,
00:42but we're going to have plenty left over to help others also.
00:46As long as you invest in America, build in America, and hire in America, that means that
00:51I'm fighting for you.
00:52I don't do anything for political reasons.
00:54I do what's right.
00:56I want to be in the forefront of every industry.
01:00So I'll be working with the Republican Congress to pass the largest tax cuts in American history,
01:08and that includes, obviously, we have to extend the Trump tax cuts, which were, until now,
01:15the largest.
01:16We're going to dramatically cut taxes for families and for workers and for companies,
01:21including no tax on tips and, hopefully, no tax on Social Security and no tax on overtime.
01:26The new Trump tax cuts will also include 100 percent expensing for new factory construction
01:34in the United States and anything else that you're going to buy with capital.
01:38If you buy something, if you buy something that is going to be good for our country,
01:43we're going to let you expense it, one-year expense.
01:47We've accomplished more in four weeks than most administrations accomplish in four years.
01:52On my first day in office, I imposed an immediate federal hiring freeze, a federal regulation
01:57freeze, and a foreign aid freeze.
02:00I signed an order creating the Department of Government Deficiency and put a man named
02:06Elon Musk in charge.
02:07Thank you, Elon, for doing it.
02:09He's a seriously high-IQ individual.
02:12Now, he's got his faults also, I will tell you that.
02:17But not too many of them, which is now really waging war on government waste, fraud, and abuse.
02:22They're curbing inflation and saving taxpayers billions and billions of dollars every single day.
02:28There's even, under consideration, a new concept where we give 20 percent of the doge savings
02:34to American citizens and 20 percent goes to paying down debt because the numbers are incredible, Elon.
02:41So many billions of dollars, billions, hundreds of billions, and we're thinking about giving
02:4620 percent back to the American citizens and 20 percent down to pay back debt and pay down debt.