Reaction to Trump’s ‘once in a generation’ tax overhaul

President Donald Trump speaks about tax reform at the Farm Bureau Building at the State Fairgrounds on Sept. 27, 2017, in Indianapolis. (AP Photo/Alex Brandon)

INDIANAPOLIS (WISH) — Reaction is coming in to President Donald Trump’s sweeping plan to overhaul the tax system for individuals and corporations.

He called it a “once in a generation” opportunity to cut taxes. The president said in Indiana that he wants to cut taxes for middle-class families to make the system simpler and fairer. Trump said his tax plan will “bring back the jobs and the wealth that have left our country.” He said it’s time for the nation to fight for American workers.

Trump said to an invitation-only audience at the State Fairgrounds that his tax proposal will help middle-class families save money and will eliminate loopholes that benefit the wealthy.

Trump said the wealthy “can call me all they want. It’s not going to help.” The billionaire president said he’s “doing the right thing. And it’s not good for me, believe me.”

The president said under his plan, “the vast majority of families will be able to file their taxes on a single sheet of paper.”

Reaction after Trump’s speech

U.S. Sen. Joe Donnelly, a Democrat from Indiana

“I work for Hoosiers, not President Trump or any political party. As it stands, the framework released today is missing many details that will be critical to determining whether working- and middle-class families truly stand to benefit. These Hoosiers will be foremost in my mind as I continue to engage with my colleagues in the Senate and also with the White House to try to craft a tax reform bill that will provide greater economic security to these families and also create and protect jobs here in Indiana.”

Kevin Brinegar, Indiana Chamber of Commerce president and CEO 

“The Indiana Chamber is advocating for a plan that will accelerate economic growth and expand jobs, and allow the U.S. to be more competitive with other countries. We believe President Trump’s tax proposal will do just that.

“In addition to making things simpler and fairer for taxpayers, the President’s plan is projected to be revenue-neutral after the first few years – due to the enhanced economic growth that’s expected. It’s vitally important to overhaul the tax code to maximize economic growth and not saddle future generations with additional debt.

“(Today and tomorrow) We are in Washington along with more than 100 of the state’s business leaders. Collectively, we are urging the Hoosier delegation to set aside partisan concerns and work toward a revenue-neutral, comprehensive reform of the federal tax code.”

Brian Bosma, Speaker of the Indiana House of Representatives, Republican from Indianapolis

“With one of the top business climates in the nation, Indiana’s economic environment stands in stark contrast to the dysfunction of federal tax policy and job-killing regulations. We’ve worked hard to pass conservative, commonsense policies, which have led to lower taxes and less regulations on Hoosiers and businesses alike. The effects of a burdensome federal tax system that discourages growth trickle down to the American worker through less take-home pay and less opportunity. It’s time for Congress to reform and modernize the tax code, and create an environment where businesses can grow and workers can succeed.”

U.S. Rep. Luke Messer, a Republican from Indiana

“This is a great day for Indiana’s workers and a great day for the American economy. President Trump’s tax plan will bring more jobs, fairer taxes and bigger paychecks to Hoosiers. I’m excited the President is here in Indiana, where we’ve led the nation in delivering the kind of tax cuts and pro-growth policies that get our economy moving. I look forward to working closely with him and anyone else ready to deliver for Hoosier workers.”

Sonny Perdue, U.S. Secretary of Agriculture 

“The people of American agriculture work hard every day to provide food, fiber, and fuel for their fellow citizens, so they shouldn’t be overburdened by the tax collector as well. Most family farms operate as small businesses, with the line between success and failure frequently being razor thin. Add to that the complexity and costs of merely complying with the tax code, and their budgets are stretched even tighter. On top of it all, the unfair ‘Death Tax’ can cause too many family farms to be broken up and sold off to pay the tax bill, undoing lifetimes of toil and preventing further generations from carrying on. President Trump is right to push for reform and reductions in the tax code—an overhaul that is long overdue.”

U.S. Sen. Todd Young, a Republican from Indiana

“President Trump made a convincing case today that this tax reform package will boost the economy and increase the take-home pay of every Hoosier. For the first time in 30 years, the prospects for a simpler tax code that lowers taxes for the working class and provides relief for small business owners looks good. Let’s seize this opportunity and deliver on our promises to the American people.”

While traveling with President Trump on Air Force 1, Senator Young also spoke with President Trump about the need for key infrastructure investments in Indiana, including Northwest Indiana’s South Shore double-tracking project and West Lake Corridor project. Senator Young said the following about that conversation.

“President Trump knows we need to make a significant investment in America’s infrastructure and he was receptive to the case I made for rail projects in Northern Indiana, locks and dams to move our home-grown goods, and rural broadband to keep Indiana connected to the world. I’m excited to work with the President on this issue and optimistic that we will get bipartisan support in Congress.”

U.S. Rep. Susan Brooks, a Republican from Indiana

“Now is the time to provide Americans with a tax code that is simpler and fairer. Our tax reform plan, which the President outlined in Indianapolis today, allows Hoosiers to keep more of their hard-earned paychecks leaving them more money to invest in their families, futures, and communities. The President knows that tax reform will keep our country competitive on a global scale. I thank the President for traveling to Indiana today and I applaud his commitment to work with members of Congress on a tax reform plan that will encourage job creation in our country, eliminate unfair special-interest loopholes, and leave more money in the pockets of our middle-class families.”

U.S. Rep. Jim Banks, a Republican from Indiana

“The last time tax reform was passed, I was seven years old and Ronald Reagan was president. Today’s framework is a good first step towards closing loopholes and putting more money in the pockets of Hoosier families. It has been over a decade since our country’s economy has grown by 3%, and this sort of growth is critical to lowering the national debt and balancing the budget. I look forward to working with President Trump and my colleagues in Congress on this important issue.”