Trump says it is “unbeatable” in 2020 in Tax Cut, Stock Rally



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President Donald Trump, fresh from a victory in the Senate that puts him one step closer to pbading a tax-cutting bill by the end of the year, declared himself "invincible" for reelection in 2020 – and suggested a Critical element of the tax plan of Congress is open for debate.

"Unless they have someone we do not know, we are invincible right now," Trump said Saturday at a fundraising breakfast in New York City.

The president spoke with Republican donors hours after the Senate approved the broadest wording of the United States tax code in three decades, reducing the corporate tax rate and providing temporary tax rate cuts for most of the taxpayers. Americans

The negotiators from the Senate and the Chamber will go to work as soon as Monday to reconcile the measure with the one approved by the Chamber in November. The invoices have some significant differences, however, both versions agreed that the corporate tax rate will be set at 20 percent, compared to the current 35 percent.

Rate of 22 percent?

Earlier on Saturday, boarding Marine One at the White House, Trump said about the corporate tax rate, "it could be 22 [percent] when it comes out, let's see what finally comes out." Accepting anything other than a 20 percent rate would be a change of position for the administration.

At the Cipriani restaurant in New York, Trump related what he described as his electoral invincibility with this year's gains in the stock market and tax (19659008) "One of the reasons is what is happening with the markets, what It's happening with business, what's happening with the jobs, "Trump told about 450 attendees at the Midtown restaurant, in the first of three fundraising events for the day it is expected to raise around $ 6 million.

How is your 401 (k)?

Trump also said that the increase in 401k retirement balances for many people with the stock market rising to record levels would be a good campaign line. He told an anecdote that happened behind the scenes, before the event on Saturday:

"A great gentleman came up and said:" Sir, I want to thank you. "I said, & # 39; What Did I do it for you? "He said:" My 401 (k) has gone up 40 percent. "And I never thought about it! You know, I tell you, he gave me one of the great lines of It's called & # 39; How's your 401 (k)? & # 39; "

Trump said, without further details, that" the new numbers have just come out "supporting his badessment of the electoral landscape. The comment seemed to be related to recent fundraising recounts for Republicans versus those for Democratic organizations.

The president's third event of the day was a fundraiser at the Manhattan home of Blackstone Group LP billionaire CEO Stephen Schwarzman, two people familiar with the event said he was not authorized to speak publicly. Peter Grauer, president of Bloomberg LP, is a non-executive director at Blackstone Group LP.

See original article in Fortune.com

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