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Trump is out selling his tax reform plan today. Photo: Evan Vucci / AP

President Trump is out selling his tax reform plan and one key selling point for the administration is framing it as a "Middle Class Miracle."

Between the lines: Trump is hoping to sell his plan as this generation's version of the Reagan-era economic boom, largely created by his tax policies. Trump's "Middle Class Miracle" speaks to his admin's plan to raise the bottom tax rate and double the standard deduction — which means Trump can accurately argue that many more low income earners would pay no tax under his plan, as reported by Axios' Jonathan Swan.

"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," Trump said during today's tax speech.

Another key quote: Trump talked about reducing the corporate rate (to 20%, which we have previously reported) and he argued, "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."

More from Trump's tax speech:

  • "Under our framework, we will dramatically cut the business tax rate so that American companies and American Workers can beat our foreign competitors and start winning again."
  • "We will reduce the corporate tax rate to... below the average of other industrialized nations."
  • "This will be the lowest top marginal income tax rate for small and mid-size businesses in more than 80 years."

Go deeper

4 mins ago - Health

U.S. surpasses 25 million COVID cases

A mass COVID-19 vaccination site at Dodger Stadium on Jan. 22 in Los Angeles, California. Photo: Mario Tama/Getty Images

The U.S has confirmed more than 25 million coronavirus cases, per Johns Hopkins data updated on Sunday.

The big picture: President Biden has said he expects the country's death toll to exceed 500,000 people by next month, as the rate of deaths due to the virus continues to escalate.

GOP implosion: Trump threats, payback

Spotted last week on a work van in Evansville, Ind. Photo: Sam Owens/The Evansville Courier & Press via Reuters

The GOP is getting torn apart by a spreading revolt against party leaders for failing to stand up for former President Trump and punish his critics.

Why it matters: Republican leaders suffered a nightmarish two months in Washington. Outside the nation’s capital, it's even worse.

Erica Pandey, author of @Work
4 hours ago - Economy & Business

The limits of Biden's plan to cancel student debt

Data: New York Fed Consumer Credit Panel/Equifax; Chart: Axios Visuals

There’s a growing consensus among Americans who want President Biden to cancel student debt — but addressing the ballooning debt burden is much more complicated than it seems.

Why it matters: Student debt is stopping millions of Americans from buying homes, buying cars and starting families. And the crisis is rapidly getting worse.