Donald Trump continues to make rash promises. It seems that the US President endlessly generates grand ideas. Ahead of the New Year, Trump thinks big and promises an economic miracle to ordinary Americans and the whole world.
The main component of the miracle is the tax reform bill, which is now under consideration by the Congress. If the congressmen adopt this reform and send the bill to the President for signing before Christmas, then a miracle will come almost immediately. "Today we stand on the verge of a new economic miracle," Trump stated. Summing up the results of the departing year, the US President gave a positive assessment to the economic development. Now, the American economy expands at the rate of 3%. "If we didn't have the hurricanes, we could have hit 4% last quarter," Trump said commenting on the impact of hurricanes that hit the US this year.
During his campaign trail, Trump promised to introduce the tax reform aimed at reduction of the corporate tax from 35 to 20 percent. According to the drafters of the bill, this step will increase the competitiveness of the US economy, as well as return the profits of American corporations from abroad. Experts see this bill as the largest rule change in the area of taxation.
