THE PRESIDENT: Well, thank you very much. We're in communication with
It's one of the great treasures of the world. The greatest artists in the world. Probably, if you think about it, I would say, Jovita, it might be greater than almost any museum in the world. And it's burning very badly. It looks like it's burning to the ground.
So -- so that puts a damper on what we're about to say, to be honest, because that is beyond countries, that's beyond anything. That's a part of our growing up. It's a part of our culture. It's a part of our lives. That's a truly great cathedral. And I've been there and I've seen it, and there's no cathedral, I think -- I could say there's probably no cathedral in the world like it.
It's a terrible scene. They think it was caused by -- at this moment, they don't know -- but they think it was caused by renovation. And I hope that's the reason. Renovation -- you know, what's that all about" But it's a terrible sight to behold.
With that being said, I want to tell you that a lot of progress has been made by our country in the last two and a half years. Hard to believe we're already starting to think about -- (applause) -- yeah. We're already starting to think about our next election. And it's moving along. We're moving along very nicely. We've raised far more money than anybody, and not that that's the critical factor. In fact, I was criticized -- coming up, I was criticized that I didn't raise as much money as
And in the old days, if you would spend less and win, you got credit. Today you have to spend more and win. So if I would've spent more, I would've been given a lot more credit. But the fact is we did spend a lot less money -- much, much less money -- than the
You know, I used to stand up and say, "We're going to cut your taxes." Well, we cut your taxes. Biggest tax cut in history. "We're going to give you ANWR." I gave you ANWR. That hasn't been done. Everyone has been trying to do that since
And we're going to have something, after the election -- assuming you elect
But this has been a very special state. It's been a rare -- a rare victory for
But under the previous administration, America's rich, natural resources were put under lock and key. You know that. And thousands of acres in
Last June, I traveled to
And, you know, I opened that up, and we're now -- our steel industry is vibrant again. It was dead. It was going to -- we weren't going to have a steel industry, if you can even believe that. No, obviously, you need that for military and for protection. You need that for a lot of things. But you need it for military. You need it -- we can't play games. We had no steel industry. It was going to die, the rest of it -- the remaining little bit. You'd see these massive plants that used to take care of so much of the world's steel, and they'd be using a little corner or they'd be using nothing.
I put a tariff on the dumping. They were dumping --
And I remember I was here about six, seven months ago, and a man came up to me -- and I've been here a lot, by the way, campaigning for your great representatives. (Applause.) But if you remember, Tom, a man came up to me and he was crying. A strong man. A big, tough guy. But he was crying. And he said, "
Today, unemployment in
We have --
And 1.2 million Minnesotans have seen a reduction in their utility bills -- think of that -- as a direct result of the tax cuts alone. That's not to mention all of the other things that we've done. 1.2 million Minnesotans.
And the average Minnesotan has seen an annual income gain of more than
The total number of new business applications in
And I want to introduce Secretary
TREASURER CARRANZA: Yes, I did. (Laughter.)
THE PRESIDENT: Before it was fashionable. Before. (Applause.) And she's done a great job as your Treasurer. And now she's moving over.
TREASURER CARRANZA: Thank you. (Applause.)
THE PRESIDENT: And Jovita will be sitting, actually, on the
TREASURER CARRANZA: About that second. Thank God. (Laughs.)
THE PRESIDENT: She's on the
THE PRESIDENT: Please, go ahead.
THE PRESIDENT: That's true. (Laughs.)
THE PRESIDENT: Some good ones. Some good ones.
THE PRESIDENT: Thank you very much. It's really great. Thank you very much. (Applause.) I appreciate it. I appreciate it.
THE PRESIDENT: Right.
THE PRESIDENT: That's good. Good. I love them. I love them. I've been on many a loader. I've been on many a truck. People don't know that about me. (Laughter.) It's -- I guess they do actually, otherwise --
I want to say that today is Tax Day that we're celebrating, okay" Tax Day.
THE PRESIDENT: So -- and we're getting historic tax relief. That's the good part. Historic. (Applause.)
And, you know, over the last very short period of time, we passed the Tax Cuts and the Jobs Act, which really -- we don't talk about the Jobs Act, but it's made a tremendous -- the number of jobs. We have over 6 million new jobs in this country. Nobody would have believed that was possible. That's a number that, if I would have said that also -- (applause) -- nobody would have believed it's possible. (Applause.)
And it's the largest package of tax cuts and reforms in American history. We got something done that's truly historic. Largest in history.
Over 80 percent of American families now are receiving that big tax cut. And it's very interesting, because I have an article here from one of the newspapers -- that's one of the interesting newspapers -- the very fake New York Times. See" (Laughter.) And they must have made a mistake. I'm sure these writers will be fired very shortly. (Laughter.) But they said in the article, "Face It: You (Probably) Got a Tax Cut." In other words, they're really -- pretty upset. (Laughter.) You could tell where they're coming from, right" "Face it: You (Probably) Got a Tax Cut." That's the headline.
Then, "If you're an American taxpayer, you probably got a tax cut last year. [But] there's a good chance [that] you [won't] believe it." Or, putting it differently, "There's a good chance that you don't believe it." And they go on to talk about the fact that people have really benefitted. And some people don't know it. Many people don't know it. A lot of -- a lot of businesses know it because they're the ones that are supplying the jobs. And, because of the tax cuts, because of the big companies who are able to bring back money into the country, tremendous things are happening with respect to jobs.
So, we lowered income tax rates across the board. Right across the board. Over 80 percent of the American families, as I said, get a tax cut. And the typical family earning
We increased productivity all over the board; lowered income tax rates across the board. We doubled the standard deduction for everybody. That's a doubling of the standard deduction, from
We doubled the child tax credit. These are things that a lot of people -- and that's possibly what the article is saying. I didn't read the rest of the article, frankly. I read the headline. I was so shocked to see it. You don't want to delve too much into
We doubled -- (applause) -- that's true. Such -- such fake news. Such phony stories. It's unbelievable. But there was one that, sort of, I couldn't believe.
We eliminated Obamacare's individual mandate, as I said. We eliminated the very unfair -- this is something that I think is a tremendous thing for people. You have children -- and you love your children -- and you want to leave your farm or your small business to your children, but you can't because of a lot of reasons: They don't have the money. The business, maybe, it's sort of asset-rich but not cash-rich. And you just worry about it because you know they're going to lose it because they're going to go to the banks, they're going to borrow money, and the banks are going to end up owning it. It happened thousands and thousands and hundreds of thousands of times. So we virtually eliminated the unfair estate tax, or death tax. We eliminated it for small business and small farm. (Applause.) Right?
So now, if you love your children -- which most of you do, but not all -- (laughter) -- but if you love your children, seriously love them, you can leave your farm, you can leave your small business, you can leave it to your children and they won't have to borrow money. They have no tax. And that's good. And if you don't love your children, it doesn't really matter. (Laughter.) Just disregard the statement that --
But the death tax or the estate tax, as they call it, is now gone for your smaller businesses and farms and things. And that's a tremendous thing for your kids who -- I mean, seriously, they were going out, borrowing money, and borrowing it at a tremendous disadvantage. They hadn't borrowed before. And it's really -- it's tragic what had been going on. We were able to get that out. Something nobody talks about, with respect to what we got in the tax cut and jobs bill.
To promote American jobs, we lowered the business tax rate from the highest in the developed world to one of the most competitive, one of the lower -- one of the lowest, in many ways. We took it down to 21 percent. (Applause.)
And I think one of the reasons that we're doing so well is we brought that down. And you could say any number. I mean, because, Steve, it was really a combination of numbers depending on who you were, but you could say 40 percent, 41 percent, 38 percent. We brought it down to 21 percent. And that's a tremendous advantage. And those people are going out, hiring all the people, building new jobs, expanding.
A very big thing is you couldn't get your money back into the country. And we came up with a plan where you can bring -- where they can bring billions and billions and billions of dollars back. And that's what's happened. And they're now investing it in
We also lowered the taxes on small businesses that pay their taxes through the individual returns, which was a very big deal and was actually very complex, very hard to get. And we got it. So the small business, we lowered the tax.
And to promote investment in low-income and distressed communities, we created tax advantages that you wouldn't believe, where people have an advantage, they have an incentive to go and invest in small communities where, in many cases, you have a lot of real problems and tremendous unemployment.
We created tax-advantaged Opportunity Zones.
We promised that these tax cuts would be rocket fuel for the American economy, and we were absolutely right. More than 6 million American jobs received pay raises. People are receiving pay raises all across the country. And, you know, that really is a great thing. Because, for 21 years, if you look back -- I used to say this during the campaign, two years ago -- a little more than two years ago -- I'd talk about people made more money 21 years ago than they made today. That was two and a half years ago. And I said, "How is that?" And they'd work two jobs and even three jobs. And they did better 21 years ago than they did two and half years ago. Well, now they're getting money. And it's really happening at a very, very fast past. And that's a great thing. And business owners like it too because they have people that want the job.
One of the things you get, though, as an employee is you now can go around and look. It's choice. Like we got Choice approved for the military with doctors. We got Choice, where, if they have to wait on line, they go to a private doctor and we pay for it. And, number one, it's great for the military. And, number two, believe it or not, we save a lot of money, but we say a lot of lives. People were waiting for three, four, five weeks to see a doctor. Now they go immediately out, they see a doctor. They've been trying to get that for 44 years in the military. They never were able to get it.
Well, you also have choice with jobs. Because now the economy is so great. We're doing so well. Maybe as good as it's ever been. I mean, it's incredible what's happening. We're rebuilding so much. We're rebuilding our military, but we're doing things that people are amazed at -- that we're the envy of the world. Every time I meet with a president or a prime minister or a head of a country, almost every time they come in, it's, "Sir, congratulations on the economy of
We're in massive trade negotiations, as you know, because our farmers haven't been treated properly for many years. In fact, Bob was telling me, really, for many years that's been going on, where the farms have not been treated well. For 15 years, you can go back and it's just a graph downward. Well, we're changing that. You -- wait until you see what's going to happen.
So we'll see if it all works out with
But we're also talking about the farmers and the ranchers and people that have not been treated fairly by, really, the world. But they haven't been treated by the people that sat in this seat -- the presidents and the representatives of the presidents -- because other countries have taken advantage of us, if you look at the
We had, on average, a loss of
And, you know, I said, frankly, "Look, if it doesn't change, we're going to tariff all of your cars and everything else that comes in. You can't treat our farmers that way. You can't treat our people that way." And I think you're going to be very happy. You'll be very happy. (Applause.)
I want to finish off by saying that small and independent businesses have invested an additional
You know, you've been treated very badly by past administrations in terms of the Internet, in terms of getting access to the Internet and everything else. And we're making it a priority. We call it "rural America," but rural America is a big place, and it's very red on a map. You know, when you look at those maps from the election, there's a lot of red. (Applause.) But we're getting a lot of Internet -- a lot of Internet access.
New venture capital deals have totaled nearly
The numbers of blue-collar jobs have recently grown the fastest rate in more than 31 years. So that's, you know, what we're talking about. They can talk all they want about socialism. All socialism is is a method into the poorhouse. You know, socialism is not so easy to beat. When an economy is really doing well, like ours -- we probably have the economy -- we may have the best economy we've ever had. (Applause.)
We have the highest stock market. I think we've created a stock market record 38 times or so. It might be more than that. But 38 times. We have a record stock market, and that's good for everybody. You have 401(k)s and you have so many other things. These are usually the big public companies.
But we've created a tremendous stock market. People are making a lot of money. They're setting records to themselves. The wives or the husbands are coming home and saying, "Whoever runs the 401(k) is a total genius. Darling, you are brilliant. You are brilliant." (Laughter.) For 20 years, she or he has been criticizing her or him, and now, all of a sudden, they look like financial geniuses. So, it's good. Some of those 401(k)s are up 60, 70 percent. So it's really something great.
And these things don't happen by accident. And it can all go away very quickly. You put the wrong people in office -- everything that I've done and we've done as a group -- we have some great -- really tremendously talented people. And everything that we've done can be undone, and bad, bad things can happen.
You know, as an example, we just recently, as you know -- the
And, of course,
We do many things like that; you just don't read about it. And I'm going to introduce you to a couple of other people later, but I think what we'll do is maybe we'll go around the table a little bit and we'll say hello to your friends and some of the folks that have done a fantastic job for
And again, I want to reiterate something that's different from what we're talking about today. But I think you've been treated extremely unfairly with respect to immigration. Extremely unfairly. (Applause.) We're going to change that. We're changing that.
Please, go ahead.
I want to tell you that the tax cuts are working. Here's what we're doing: We're investing in equipment, in technology. We've created jobs in our corporate infrastructure to create a franchise system and for our stores. And today, I am proud to announce, with you, that we'll be offering 401(k)s to all of our employees --
THE PRESIDENT: Great.
We are doing what the tax cuts were meant to do -- a small business to compete against big investment: invest in our people, invest in growth.
And to the right of me is first --
THE PRESIDENT: That's great.
THE PRESIDENT: Thank you.
We were -- I'm a son of Cuban immigrants that fled
Thanks to the strong economy and the tax cuts, our employees are benefitting from higher wages, bonuses that they weren't able to receive before; benefits that they weren't able to receive before.
We, as a company, have currently two restaurants out of the 25. We're currently building three more. But thanks to the tax cuts, that expansion is going to accelerate, and hopefully soon we'll be able to create an extra 500 jobs thanks to (inaudible). (Applause.)
THE PRESIDENT: Thank you, Manny. Thank you. And I'll bet you that the one-year expensing has been one of the great things.
You know, that's something that nobody talks about, but it's -- to me, it's one of the most important elements of what we got approved. Nobody thought that would be possible. But the one-year expensing has been very special.
THE PRESIDENT: -- very good friends that are here from
Thank you for putting America and Americans first. We'll always appreciate that. (Applause.)
Thank you for your leadership in working with
Mr. President, I think people forget that it was a little bit more than two years ago that economic growth in this country was anemic. It was less than 2 percent. Americans were being told to get used to it and that our better days were behind us.
Then came your administration that eliminated
Over the first nine months of this administration -- your administration -- our economy is now experiencing strong growth, the lowest unemployment in a half century. Americans are confident again. Americans are optimistic again. And in your words, Mr. President, America is winning again. So thank you. (Applause.)
THE PRESIDENT: True. Thank you, Tom.
But you know what, Mr. President" They're making more money. Middle-class America is making more money. They have more take-home pay. And we now have more jobs available in this country, because of your policies, than we have people to fill them.
We got a lot of work left to do. The healthcare bill is one I can think of. And on the tax cuts, we still got to eliminate the Cadillac Tax and the healthcare tax. And we've got to take care of the medical device tax and make them permanent. And the individual tax cuts, we got to make those permanent.
But a great start. And thank you for everything you're doing. (Applause.)
THE PRESIDENT: Thank you very much. Thank you. Thank you.
And we will always be protecting preexisting conditions. Remember that. That's number one. Very, very important. Very important, right" (Applause.)
And because of the tax reform, our owner, Mike, was able to bring me on board with specific goals to expand our business presence in
And during my short four-month tenure with Mike, we've been able to -- at my location, we've increased the number of employees from 7 to 15. We have seen 102 percent total revenue increase over the same period last year. And we've also invested 170,000 in capital investments: new trucks, machinery, stuff like that.
And both Mike and I are extremely excited about the direction of our company and the future. (Applause.)
THE PRESIDENT: Thank you, Jake. Thank you. Thank you very much.
I originally started -- or bought this business in 2007. I had one employee. We've been fortunate to grow over the years. Of course, it's been difficult and challenging.
But at the time that the act was passed, we had 31 employees. So this is back in December of 2017. We have -- well, I should say, as were driving here today, our 50th employee accepted the position, so we're making -- (applause) -- making great progress towards continuing to add jobs here in America.
We have invested in a number of new trucks. We bought our first tax-cut truck in February of last year. We have -- (applause) -- thank you.
THE PRESIDENT: That's good.
THE PRESIDENT: Good. Good luck.
We -- lastly, just on Friday, Mr. President, we received our very first -- we were rewarded our very first multimillion-dollar contract, and it is -- the performance bond is guaranteed by the SBA. So we've been able to kind of benefit from a bunch of the different initiatives that are going on during our presidency.
So thank you very much. (Applause.)
THE PRESIDENT: Fantastic. Thank you very much. Good luck. That's great.
MS. BRUCKWAY: Thank you. First of all, Mr. President, I just want to thank you for taking the time to come to
THE PRESIDENT: It's true.
I have two young kids at home, so some of the stuff that comes along with the tax cut act has really impacted my family.
Born and raised in
Working in human resources, I get the chance to work firsthand with many different employees and their families and hear the different stories. You know, one of the main things that I can acknowledge from when they first got their checks, after the 2017 tax cut act came into effect, was their take-home pay, seeing that disposable income -- you know, seeing that they would have a little bit more to spend on things that they may have otherwise not been able to afford. So that's been really great.
And as a company, Nuss was able to give all employees in 2018 a bonus, regardless if they worked there for a day, they still received a bonus. So that was a really neat thing.
And just to hear firsthand from the employees what they were able to spend that money on -- you know, a lot of people would say that they were able to have extra great Christmas family with their family, maybe donate more to charity, invest in their kids' college expenses, maybe 401(k), you know, up that contribution a little bit.
So it's been really great to see what people have been able to do with that extra money that they're getting and just to see how it benefits the Nuss organization as well.
THE PRESIDENT: Thank you very much. That's beautiful. Thank you very much. (Applause.) Thank you. Thank you.
And Bob is a great man to work for, right" And his family.
THE PRESIDENT: Good. Good.
I've been in the industry 50 years this year, and started working at my dad's dealership in
The economy in
And I came up here, managed the -- so we're continuously over 50 years in the business, from '59, when my dad became a dealer -- more than 50. And anyway, what we did was, I bought the dealership. I came up -- there was a dozen employees in 1979. And today, we have over 350 employees in eight locations. (Applause.)
THE PRESIDENT: Great.
THE PRESIDENT: Wow. That's what's happening. Thank you, Bob. Thank you very much.
THE PRESIDENT: Thank you, Chris.
I started the business at 25, in my apartment, and we've grown significantly since.
The tax cuts -- we have to ask our accountants, really, to explain them to us. We're not Steve Mnuchins. We do our best. But at any rate, we looked at it and, you know, we said, we're going to have a quite a bit of money left over. It was substantial for us. Those crumbs that they pejoratively talked about really were not crumbs to us.
THE PRESIDENT: That's right.
THE PRESIDENT: That's great. Thank you. Go ahead, please.
So thank you very much, Mr. President.
THE PRESIDENT: Thank you, Ross. (Applause.) Thank you. Congratulations.
SECRETARY MNUCHIN: Mr. President, I just want to say, I remember during the campaign, sitting around tables like this and listening to business people. And you promised when you were elected that you would deliver tax cuts. You promised economic growth. And thank you. You've delivered on those promises. (Applause.)
THE PRESIDENT: Thank you. Thank you.
I just have one location. I have about four to five employees, including myself. So -- and the employees that I do have are -- the majority of the time are single moms, college students, high school students, things like that. Pretty much knowing that my business is not so much a career, as much I get to pretty much train them as far as like customer service and actually learning certain things that we just take for granted, we think people know.
The location I'm at has actually been -- there's always been a corner market or a company store there since the 1800s. So when I was told that, I was actually thrilled knowing that I'm actually part of history as long as I keep it going. And because of the small business tax deduction, I didn't get to buy equipment or hire hundreds of employees, but -- and I was actually able to continue to sustain the business that I have, because it has been rough for us. Only because of the business that these gentlemen do -- the people, their employees weren't coming into my store. So with those breaks and those things, and buying the equipment, and (inaudible) the jobs, I actually get to sell them their milk, bread, eggs, and cheese, and I'm kind of happy with that.
THE PRESIDENT: That's great. (Applause.)
THE PRESIDENT: Thank you. Thank you very much. Thank you.
Mr. POMA: Mr. President, my name is
With the tax cuts, we were able -- with tax reform, we were able to give all of our employees bonuses. We've bought new vehicles, purchased complete new computers, iPads for the field to make us more profitable. We've been able to reinvest in our company.
And I want to thank you for the support to the American people, American companies. I appreciate it. And thank you. And stay your course.
THE PRESIDENT: I will.
Mr. POMA: Thank you very much. Thank you.
THE PRESIDENT: I will. (Applause.)
And I don't know if you remember, but we've met one time during the caucusing at the high school when you went there. I got to shake your hand and get a picture with you and everything. You're very personable and I can't stop talking about you.
THE PRESIDENT: Well, that's nice. (Laughter and applause.) I hope that doesn't change. Thank you.
I also have been teaching 12 years in our apprenticeship program, our PHCC national apprentice program. I've been thinking about it. I can remember, three years ago, we couldn't find enough apprentices to fill our class. Now we don't have enough -- a big enough building for the amount of guys that want to come work in the trades. (Applause.)
So what you've done with the tax and jobs reform has really boosted our economy in Vegas, and we saw it overnight go from nothing to, you know, 60 miles an hour. It's unbelievable. And without that, I don't know where we would be at. We've gone from 15 to 35 employees in our company, and from 30 apprentices to over 85 apprentices in our program.
THE PRESIDENT: Wow, that's great.
THE PRESIDENT: Thank you, David. That's great. Thank you. (Applause.)
TREASURER CARRANZA: Mr. President, as much as I love to serve with you, he's offering
But I am very grateful -- very privileged to be sitting here before you and then in support of the President --
He premised a very comprehensive package -- pro-growth package, as Secretary Mnuchin has indicated -- which included not only the tax reductions or tax cuts, but also the regulatory reforms as well as reciprocal trading -- trade agreements. And I think you have delivered on all of them and then some.
And so, I'm here to applaud everyone here in this roundtable that have done so well and that are just -- are just starting out. Because this is our only second year in this process. So thank you very much, President.
THE PRESIDENT: Thank you very much, Jovita. (Applause.) And good luck in your new position. You're doing to do fantastic.
So, to the great people of
And -- (applause) -- and again, you see what's happening at the border and you know how unfairly you've been treated as a state. And you've really been treated unfairly. And I just want to let you now it's all changing. We're doing very well.
We have to -- it would be a lot easier if
And, of course, asylum. Asylum is a ridiculous situation. People come in, they read a line from a lawyer that a lawyer hands them out online. They read it. You look at some of these people; you want protection from them. And they're saying, "We need protection from our country." In the meantime, they're carrying their country's flag thousands -- 2,000 miles walking up the journey. It's a big con job. That's what it is. (Applause.)
So I just want to thank -- it's been an incredible experience for me being in
You know, the -- (applause) -- right" And a lot of the -- a lot of the public doesn't really get the picture because, you know, you could have 10,000 people pro and two people against. And those two people will make the front page of the papers. "Why are you against the President?" (Laughter.) But everybody gets it. Everybody gets what's going on.
There's a great movement in this country, and it started with that very special day in November. Remember that day" Was that a great day" (Applause.) November.
And we actually did very well in '18 also. We won the
And we're going to have an election coming up. I think that that's going to be something -- it's going to be really a carry forward from what we did in '16. It's going to be a great carry forward. And it's going to be, I think, also a very, very special day.
You know, we had the theme, "Make American Great Again." That's what we've done. We've made American great again. We're not only winning again, as Tom said, but we're respected again as a nation. We're respected again. (Applause.)
And all of these countries -- including allies, people that I like very much -- they -- I say, "How did this happen" How were you allowed to do this to our country?" You look at trade deals where we lose on every one of them. Practically every one of them. There's not a trade deal we have that's any good. And
Look, we're going to win either way. We're either going to win by getting a deal, and we also win if we don't get a deal, because we do other things. But that we were put in this position.
But I have a very good relationship with
You know, it's interesting, we've been talking now -- we were in
It's interesting when the media said, "It's not moving fast enough." Well, what about the last 40 years" Nobody talks about that. (Laughter.) For 40 years, they don't talk about it. With me, it's like nine months. "Why isn't it moving?" I don't want it to move fast. It doesn't have to move fast. Right now it's moving along just perfectly. And we have a good relationship. The sanctions are on. We got our hostages back. We got -- (applause) -- our remains are coming back. And there's a lot of constructive things going on.
And you could look at many other things.
And when I took over two and a half years ago, you look at that map and you see
But you can never claim victory because you always have a nut-job someplace that's going to do something, okay" I don't want to be in a position, "Oh, he said 100 percent." Well, we do have -- we have 100 percent of the land, of the area. A hundred percent. We took it over very quickly. Very quickly. But you always have somebody out there, so we don't want to be put in a positon where we say "100 percent" and then somebody gets killed by some mad maniac.
So I will just tell you,
We all want to extend our regards and our hopes and God bless you to
Thank you all very much. It's a great honor to be with you. Thank you. Thank you very much. (Applause.)