US President Donald Trump said on Wednesday that the “Comprehensive Tax Cuts” Act achieved the “largest tax cuts” in the history of the United States.
The British newspaper The Guardian explained that this description is inaccurate because it is actually the sixth largest tax cut according to the Tax Foundation.
Trump explained during his State of the Union address that what Republicans in the US Congress were asking him to focus on before the midterm elections: the tax cuts they approved last year through his massive legislation.
In another context, President Trump expressed his regret over the Supreme Court’s decision, which ruled that he exceeded his presidential powers by imposing many global customs duties under the International Emergency Economic Powers Act.
Trump said in his union speech in the US House of Representatives: “I used these tariffs, and got hundreds of billions of dollars, to make excellent deals for our country, economically and security-wise, and everything was going well. They did us great harm. You all know that. Everyone knows that, even the Democrats know that.”
Trump called the Supreme Court’s decision “unfortunate,” given that the four justices attending his speech today were sitting directly in his field of vision.
The US President continued to promote his new 15% global tariffs under Section 122 of the Trade Act.
“It’s a little more complicated, but it’s actually probably better, which will lead to a stronger solution than before,” he said.
