--- title: President Trump and Republicans Are Planning Big Tax Cuts for the Rich and Corporations | TIME description: The White House and congressional Republicans are finalizing a tax plan that would slash the corporate rate while likely reducing the levy for the wealthiest Americans, with President Donald Trump ready to roll out the policy proposal at midweek. canonical: https://time.com/video/rOEBbcV3/ og:title: President Trump and Republicans Are Planning Big Tax Cuts for the Rich and Corporations og:description: The White House and congressional Republicans are finalizing a tax plan that would slash the corporate rate while likely reducing the levy for the wealthiest Americans, with President Donald Trump ready to roll out the policy proposal at midweek. og:url: https://time.com/video/rOEBbcV3/ og:image: https://cdn.jwplayer.com/v2/media/rOEBbcV3/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: President Trump and Republicans Are Planning Big Tax Cuts for the Rich and Corporations twitter:description: The White House and congressional Republicans are finalizing a tax plan that would slash the corporate rate while likely reducing the levy for the wealthiest Americans, with President Donald Trump ready to roll out the policy proposal at midweek. twitter:image: https://cdn.jwplayer.com/v2/media/rOEBbcV3/poster.jpg?width=720 --- # President Trump and Republicans Are Planning Big Tax Cuts for the Rich and Corporations > Sponsored content. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: President Trump and Republicans Are Planning Big Tax Cuts for the Rich and Corporations [Watch (HLS stream): President Trump and Republicans Are Planning Big Tax Cuts for the Rich and Corporations](https://cdn.jwplayer.com/manifests/rOEBbcV3.m3u8) (2:21)  _Published 2017-09-26. The White House and congressional Republicans are finalizing a tax plan that would slash the corporate rate while likely reducing the levy for the wealthiest Americans, with President Donald Trump ready to roll out the policy proposal at midweek._ --- Jul 27, 2023 10:40 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Trump Implores Divided Republicans to Unify Behind His ‘Big, Beautiful' Tax Cuts Bill](/video/bwIVeC3f/) ### Trump Implores Divided Republicans to Unify Behind His ‘Big, Beautiful' Tax Cuts Bill [President Trump Says, Wrongly, That He Won't Benefit From the Republican Tax Bill](/video/R4uZ9LV1/) ### President Trump Says, Wrongly, That He Won't Benefit From the Republican Tax Bill [We Finally Know What’s Actually In the Republicans’ Tax Plan](/video/klch0xbO/) ### We Finally Know What’s Actually In the Republicans’ Tax Plan --- ## Transcript Here are my four principles for tax reform. First we are going to make the tax code simple and fair, so that families can spend more time with their children and less time waiting though pages of paper work. A staggering 94 % of families use professional help to do their taxes and that's not fair it's not right. That's why, under our plan, 95 % of Americans will be able to file their tax return on a single page without keeping receipts, tracking paperwork, or filling out extra schedules. Second, we're going to cut taxes for the middle class so that hardworking Americans can finally save more for their future. We want to help families keep more of what they earn and to be able to afford the costs of raising a family. Our tax code should recognize that the most important investment we can make is in our children. Third we are going to restore America's competitive edge by making our taxes be more attractive for investment and job creation. Our business tax rate is the highest in the world pushing jobs to foreign countries, that's not what we want, that's not what I've been talking about all these years, I've been talking about the exact opposite. We need to bring down our tax rates so we can create jobs, wealth and opportunity right here in the United States of America So we can bring our jobs back and bring our businesses back. We want tax reform that puts America first. We want tax reform that makes America great again. Finally, we're going to bring back trillions of dollars in wealth parked overseas so that it can be invested in our country where it belongs. We have a once in a generation opportunity to reform our tax code and pave the way to unprecedented prosperity. By doing what we're doing you will see results like you've never seen before. It will be the largest tax code our countries history. I'm asking members of both parties to come together, To put aside partisan differences and to pass historic tax reform and tax cuts for the great citizens of our nation. 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