The White House on Wednesday made its case on the Tax Cuts and Jobs Act to a room full of business owners, many of whom were NFIB members, who eagerly await what could amount to a $362 billion tax cut.
Speaking at the St. Charles Convention Center, President Donald Trump told the audience of 1,000 people that the tax bill will help Main Street businesses, according to the St. Louis Dispatch.
“Our focus is on helping folks who work in the mail rooms and the machine shops of America, the plumbers, the carpenters, the cops, the teachers, the truck drivers,” he said.
Meanwhile, the Senate is expected to vote on the bill late this week. A Senate committee passed the tax-cut bill earlier this week. If the Senate approves the measure, lawmakers would have to reconcile it with the House version that passed last month.
Earlier this week, NFIB President and CEO Juanita Duggan praised the Senate tax bill. “It’s an excellent, excellent tax bill for small business. I want to put the value of this pass-through provision into some context. It’s $362 billion according to our estimate, and that is roughly equivalent of the economy of Austria. It’s larger than the economies of Israel or Hong Kong or Ireland. If you imagine putting that amount of money back into the pockets of small business owners, there’s no question that you’re going to see more jobs and more economic growth.”