President Trump said Tuesday that a major announcement was coming soon about companies returning to the United States, which he credited to the tax reform effort.
Expect an announcement that companies are “pouring back into the United States,” Mr. Trump said at a meeting with business leaders at the White House.
“We have companies that really want to move back into the United States now because of what we’re doing with taxes. And some big ones are going to be announcing very soon,” he said.
The president said he was holding firm on his demand that the tax reform bill emerging in Congress cuts the corporate rate from the current 35 percent to 20 percent.
The reduction would take the U.S. business tax from one of the highest in the developed world to one of the lowest. The president has promised it will rev up the economy, creating jobs and rising wages.
House Republicans are set to unveil the tax reform package Wednesday. The reforms are expected to slash individual and business rates, eliminate most deductions and simplify the code to a single-page return for most filers.
Mr. Trump is leaving Friday on a trip to Asia. He said that Treasury Secretary Steve Mnuchin will be staying behind for a U.S. tour to promote the tax plan.
• S.A. Miller can be reached at smiller@washingtontimes.com.
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