President Donald Trump said Wednesday that average U.S. households could save $4,000 on their taxes if Congress approves his plan to overhaul the federal tax code, the first such estimate the White House has attached to its proposal.
Speaking in Harrisburg, Pa., Mr. Trump said those savings would result from his call to lower tax rates on individuals and on companies that have parked some profits overseas. He attributed that estimate to the Council of Economic Advisers, a White House agency that is expected to release a fuller estimate of Mr. Trump's tax plan by next week.
Standing in front of an 18-wheeler, Mr. Trump promised to make paying taxes simpler for most Americans, and again vowed to deliver major cuts for the middle class. He also said his tax plan would help spark the economy.
"American trucks will glide along our highways -- so beautiful will those highways be: smooth, beautiful, no potholes," he said to cheers. "I know, no potholes. I have many friends in the trucking business and they tell me it's never been like this...They will be beautiful again -- they will be smooth, beautiful highways again."
He warned Congress to quickly approve legislation. "You better get it passed," he told lawmakers.
His speech came at the end of a day in which the president sought to knock down a report that he wanted a 10-fold increase in the nation's nuclear arsenal, saying such a move was "totally unnecessary" and lashed out at NBC News, which reported the story.
(END) Dow Jones Newswires
October 11, 2017 20:10 ET (00:10 GMT)