Trump touts tax reform, fewer regulations to Latino leaders

    16 de abril de 2018

    Miami, Apr 16 (efe-epa).- President Donald Trump on Monday touted his tax reform and the efforts he has made to reduce regulations that restrict business activity in this country during a business round table with US Latino leaders in Hialeah, Florida.

    At the event, Trump emphasized that no previous president has done so much to reduce regulations on businesses and he promised to continue along those lines, saying that his administration is not finished with that task.

    The Republican tax reform, the magnate's first big legislative victory since he took office in January 2017, includes a noteworthy reduction in the corporate tax rate - from 35 percent to 21 percent - and has resulted in many US firms "returning" to the country after previously locating factories abroad, the president claimed.

    But he insisted that the biggest tax reform plan the US has seen in three decades, approved by Congress last December, also benefits employees and their families, by both simplifying the tax code next year and reducing individual and corporate taxes, which will allow people to keep a greater percentage of their paychecks and lead to job creation.

    Trump said that "three million new jobs" have been created since the November 2016 election, emphasizing that businesses now have more money to funnel into hiring personnel.

    The president also said that many large companies have allocated their tax savings toward providing bonuses to their employees.

    This is all due, the president said, to the country's transition from being one of the nations with the world's highest business taxes to being on the side of the lowest.

    With all these moves, he predicted, the US economy is on the verge of its biggest expansion in years and is "starting to really rock," and that will result in the creation of more jobs and additional pay hikes.

    Also attending the round table were national security adviser John Bolton, Treasury Secretary Steven Mnuchin, Labor Secretary Alex Acosta, Florida Republican Sen. Marco Rubio and Congressman Mario Diaz-Balart.

    Meanwhile, the Democratic Party, via Democratic National Committee spokesman Francisco Pelayo, said Monday that Trump's tax reform benefits Florida's millionaires "at the expense" of the middle class and that the majority of Latino small businesses will receive no tax advantage from it.