In Wednesday’s address, President Trump said his administration and U.S. lawmakers have a “once in a lifetime” opportunity to make big changes to U.S. tax laws.
The president rallied against the current tax code, calling it a “waste of time” and “waste of money.” He said that the White House is calling for tax simplification a day after he met with GOP congressional leaders arriving in North Dakota to outline the current blueprint behind tax reform.
Another goal of revamping the U.S. tax code is bringing back money that U.S. companies has sent overseas to other countries, Trump said Wednesday. Lowering corporate taxes is a focus for the White House and GOP leaders, and is something that local lawmakers see as something to help businesses and people to thrive.
“He’s focusing on communities and states such as ours, that have a such significant role in agriculture and energy production with sound policies in place to allow for businesses and for people to thrive,” State Sen. Jessica Unruh said.
At several times during his speech, Trump invoked former President Ronald Reagan while talking about taxes. He called his plan for cuts the biggest since Reagan was in office, which the president said was passed by bi-partisan support.
Trump also reiterated his support for oil and coal industries by reversing EPA regulations created under the Obama administration. He also expressed his support for the Dakota Access Pipeline, saying it was the “right thing to do.”
North Dakota Gov. Doug Burgum echoed sentiments made by the president, saying that a simplified tax code would help taxpayers and stimulate business growth.
“The tax reform could actually be a huge stimulus to our national economy and for North Dakota,” Burgum said. “And it’s very exciting to hear a president that understands economics, that has been a businessperson and understands what it is to create jobs.”