Trump discusses tax reform, ACA replacement in joint address

President Trump delivered his first address to a joint session of Congress in the House chamber on the evening of February 28. Trump outlined his administration’s goals to lawmakers, which include comprehensive tax reform, infrastructure investment and the repeal and replacement of the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148).

Tax reform

“My economic team is developing historic tax reform that will reduce the tax rate on our companies so they can compete and thrive anywhere and with anyone,” Trump said. U.S. companies are taxed at one of the highest rates in the world, the president added. “At the same time, we will provide massive tax relief for the middle class.” Trump also pointed to other countries taxing U.S. manufactured goods “at a high rate” and emphasized that “free trade needs fair trade.”

Trump also emphasized his administration’s effort to reduce regulations that are burdensome to U.S. businesses and job growth. During the week of February 20, Trump signed an executive order directing federal agencies to establish a regulatory reform task force to assess whether regulations are burdensome to the economy and job creation. Trump also referred to his executive order in January that requires a two-for-one swap for every new regulation issued.

ACA

Trump called on both Democrats and Republicans in Congress to work together in the repeal and replacement of the ACA. “Tonight, I am also calling on this Congress to repeal and replace Obamacare with reforms that expand choice, increase access, lower costs, and at the same time provide better healthcare,” Trump said. “The way to make health insurance available to everyone is to lower the cost of health insurance and that is what we are going to do,” he added. During the joint address, Trump also advocated the use of tax credits and health savings accounts to help Americans purchase health insurance.

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