Key quotes from President Trump's speech this afternoon at the Iowa State Fairgrounds:
- "There is no reason that Democrats and Republicans in Congress should not come together to deliver this giant win for the American people and begin the Middle Class Miracle once again."
- "This is a revolutionary change, and the biggest winners will be Middle Class workers as jobs start pouring into our country, as companies start competing for American labor, and as wages continue to grow."
Go deeper: The details of the plan ... Read the tax cuts outline for yourself.
The big picture, from the NYTimes:
- "[T]he nonpartisan Committee for a Responsible Federal Budget found that the policies in the framework would cost around $2.2 trillion over a decade."
- "Republicans pitching the plan say economic growth will compensate for lost revenue...'This tax plan will be deficit reducing,' [Sen. Pat Toomey] said."
- Democratic counterpoint from Sen. Chuck Schumer: "[T]his would cost anywhere from 5 to 7 TRILLION dollars and they have no credible plan to pay for it... If they don't pay for it, they'll balloon the deficit and debt...."
One pessimistic take: "Tax reform is going to make health care look like a piece of cake," said retiring Sen. Bob Corker.