tv Your World With Neil Cavuto FOX News September 6, 2017 1:00pm-2:00pm PDT
>> neil: all right. you are looking at north dakota. this is an important venue for the president of the united states to pitch his tax reform plan. welcome, everybody. i'm neil cavuto. you're watching "your world." you know, the president of the united states will have a democratic senator with him in tow here. the cooperation with democrats is pronounced as of late. suffice it to say, democratic heidi hiedcamp is joining him on air force one. she's very convinced that
north dakotans will be eager to that. the talk is back to ronald reagan and what he talked about winning over democrats. whether the president can command as much on the other side is anyone's guess. he's going out to try to get support for a plan that we're told is all but dotted and the ds crossed. we'll take you to the president when he outlines all of that. meantime, we're still on irma watch, still packing incredible winds in excess of 185 miles an hour. residents of the keys are facing mandatory evacuations. broward county ordering evacuations. florida's governor saying this is bigger than anything he's seen in the past and floridians should not make light of it. the mayor of miami telling me now to do just that. stay clear and be on top of it. >> all of our residents should
leave miami beach. our visitors should leave. we expect a mandatory evacuation tomorrow morning. i've made it clear, get out now. >> neil: for good reason, this is a biggie and it's getting bigger. rick reichmuth is following where this is headed. this is the crap shoot here. we're not sure. right? >> yeah, a lot of times we have a handle on where they're headed and sometimes we don't. we're not sure where this is storm is going once it gets to the u.s. in the short term, the center has cut through the british virgin islands and moving to the northeast of puerto rico. they're getting strong winds. winds over 70 miles an hour. and san juan, winds gusting almost at 50. so very strong winds. but the core of those category five winds are right there around the center of the eye. i think the worst of that is
going to stay to the north of puerto rico, which would be really good news. this is a look at the future radar. a depiction of what we think the radar would look like. turks and caicos will get hammered and the bahamas will get hammered throughout the day tomorrow and into the day friday. we know it will continue off into this northwesterly trek. we also are very confident that it's going to make a very sharp right turn. where it makes that right turn will have -- make all the difference on who gets the worst of the impacts. does it go to the western shore of florida? i think that's the least likely scenario. somewhere here, maybe towards south florida, that's a very likely scenario. and could hit just off of shore of floor and rakes the coastline. think of what we saw with hurricane matthew that made landfall somewhere up here around the south carolina or georgia coastline. so a lot of possibilities still
with us because its making the right-hand turn where we have u.s. land a 20 or 30 mile deviation one way or the other will have big impacts. we just can't say it yet. a lot to watch and we'll continue to do this and keep everybody up to the latest. >> neil: maybe you can answer a do you mean question i have. if it doesn't directly hit but it's off the coast, i would imagine the winds just -- even from a distance from a category five storm are fairly significant? >> yes, hurricane force winds extending out 50 miles from the center. could be a larger storm out from the center. so if it goes 20 miles off the coast, we could have 120, 150 miles an hour winds right along the coast. maybe that helps on the storm surge, but the wind would destroy a lot of structures
along the coast. 20, 30 miles makes a big difference. i think either way, we have major impacts across parts of florida, a direct hit. that's the one thing i'm not ready to say just yet. if it doesn't hit it, it stays over water, neil, the center stays over water and rakes the coastline and causing damage in florida and making a direct landfall around north carolina. so a lot of more people could still get this. a lot of unknowns. we do know there's impacts across the southeastern u.s. >> neil: rick, thanks very much. let's go to phil keating in florida. a lot of anxious people. >> yes, there is, as far north as gainesville, tampa, orlando, people have been raiding water plies at walmarts and costcos
and every gas station around the state, this is what you see. if you like to sit in lines to fill up your tank, come to florida right now, which currently is sunny florida but not for long. here's a gas station that still has fuel. we have come across multiple gas stations today and yesterday that had run out of fuel. the governor is insisting fuel trucks are still coming, resupplying, redelivering. for everybody that needs gasoline, whether they expect power to do out for three to five days when no gas stations would be open or whether they're planning on driving all the way out of the state, they need their fuel. because of the track as rick showed going all the way up the state, if you're going to evacuate, you need to fly out of the state, if you can still get a flight. more to that in a second. the florida keys started evacuations last night. us a residents in the keys need to be out by 7:00 p.m. tonight. i talked to a friend in key
west. they call it a ghost town right now. here's what one resident had to say. >> it's frustrating. it's chaos out there. trying to get water and try to get supplies. everybody is like in a state of madness. >> yeah, it is a bit of chaos. tempers are short. we saw an accident. people are cutting in line. people are yelling at each other. it's hot and humid all day long. people are under a great deal of stress. this storm is the only thing on local tv the past two days. it's everything, all everybody can think about right now. as far as airlines, well, there's been a lot of people complaining of price gouging, typically $300 flights one way are selling for $1,000, up to $3,000. florida has a price gouging lawsuit making it illegal. since the faa and the department
of transportation regulate the airlines, they're exempt from that. >> neil: talk about sleazy. thanks, phil. in the florida keys, as phil surmised, it's target zero here. a few feet above sea level there and we're talking storm surges in excess seven or 8 feet. there's a mandatory evacuation for the keys. sir, very good to have you. how many are honoring the evacuation? >> neil, we're getting good turnout. the evacuation order didn't go into effect until 7:00. last night coming through the keys, we already had a steady line of traffic going out. so that's been positive. we have not seen traffic jams or backups but a constant steady flow. so that gives us a lot of hope as people obeying these evacuation orders.
the community evacuation order doesn't go until 7:00 p.m. we're seeing the population being drawn down. that's a good sign. >> neil: i do remember 25 years ago, hard to believe, with andrew, that a lot of people -- i believe it was voluntary evacuation in the beginning and then about 48 hours before andrew hit, everyone was on the road. how do you prevent the traffic jams, that are beyond notion? >> it is about communication. the population of florida is very familiar with that idea of getting stuck on the interstate. so we started messaging early. just letting people know that if you're traffic adverse, leave early. they listen to that. as long as everybody takes a reasonable approach to this, we can move everybody we need to move. it's no different than a
building. if everybody tries to rush to the exit at once, it's going to be chaos. >> neil: director, how many people there because maybe it's been awhile since florida was hit by a severe storm, a dozen years, if you just go back to katrina, that they're getting impervious to this -- >> when you live in the keys, your at the highest risk for the hurricanes. with this being a category five, it's a totally different response, if this was a category two. with this being a category five and tracking the way it is, people understand the realities. here in the keys, we live off the motto, you can hide from wind but you have to run from the water. they realize that. the storm surge, when you're
three feet above sea level is deadly. the question is ask, why would we go to the mainland if they can get hit? a high and dry hotel on the mainland of florida is better than wet soggy grounds here on the keys. that's what we do, try to get away from the water and get somewhere safe where we can avoid the wind. >> neil: good advice. thanks, martin. from the florida emergency management. that's a busy guy. let's take a look at how this is reverberating economically. it's not a refinery area so it doesn't have the effect on oil and gas. use lines under selling pressure. the overall market is resilient. that might have to do with what the president is about to say. joining us with max ferris on
the hurricane fallout. we just got approved today, jonas, this $8 billion initial deposit on relief for harvey victims. mer has to follow suit. you're looking at potentially bigger bills to follow, right? >> right. florida is not a gas and oil state. the biggest risk is property and casualty. there's more insured here per capita. through fewer people than like a houston. the boats and the condos all on the edge of the water. really raises the liability issues for insurance companies. most insurance companies and their stocks have come down this week when this went to a category five. they've come back. the ones in florida like a universal insurance holdings, that stock will perfectly correlate with how bad and how much dollars are done to it. the reinsurance companies that
insurance the insurance companies, you'll see the stocks plunge more if this cost over $100 billion, 150. the potential to have the most damage any because of the amount of assets people own that are insured. boats cost more money than houses in some areas. that i have to be moved or damaged. a large liability. that's where you'll see the activity. you wouldn't think there's a storm coming. >> neil: i noticed norwegian cruise was sending two ships back ahead of schedule. other cruise lines can be doing the same. that's to be expected. the quick fallout on how long this lasts and how much it hits, right? >> yeah, don't think the tourism impact is that significant. there's hotels closing sending staff home. they can't keep people there because they can't keep staff there. they're giving refunds, vacations are ruined. that's a few weeks issue.
it's the damage that is done to a hotel that would stop them from reopening. that's insured to some extend, the damage and the business intervention. >> neil: that's a way point for the caribbean. the president is about to speak. his motorcade just arrived in north dakota. he cobbled together a deal with largely democrats with this aid package for harvey victims, $8 billion and avoiding a debt ceiling fight until december 15th. it's a cobbled together deal that got more democrats than republicans aboard. here he is with north dakota with a democratic senator in tow that might be willing to support his tax package, the details of which we don't know. what are the odds as you look at this about passage and how likely this looks?
>> you turn lemons to lemonade with these hurricanes. you get things that get done. you don't use them to get a tax package through. as far as the level of tax package, most people think it won't be as significant. it's not that be people will support to it get that broad of thing through. if we get corporate tax reform, probably support for that but difficult to pull anything out. without a weak economy or recession or bank crisis to make people really think we need a stimulus package, it's going to be hard to get a tax package through. >> neil: i guess the markets prevailing that nothing is better than nothing. >> definitely. >> neil: thank you. the president has arrived on site right now. you might have seen his motorcade pass. we will take you there when he gets to the microphone, this is his second speech to pitch the tax cuts in as many weeks.
last week it was missouri, now north dakota, a state that he got 63% of the vote. meantime, we're looking at the fallout from this storm that is approaching. we have more from gasbuddy.com. we're told that the average gallon has gone up 35 cents week over week. maybe it eases back. a storm like this is not expected to hit refineries that would stall production and lift prices. what do you think? >> exactly. we're talking about one refinery in savannah that would be at risk. overall, you're talking about an area of the country that has no refineries with the exclusion of the one i just mentioned. you only have really the colonial pipeline that serves these areas. now we're starting to see the after effects of harvey. colonial pipeline temporarily shut down because of a lack of products. that is starting to impact areas of the southeast.
some of the latest numbers showing a quarter, probably more than a quarter of gas stations in southern florida have run dry as motorists seek refuge. >> neil: if we do have a busy hurricane season, those that trade energy futures, they're really making emotional bets on fly disruptions. they seem to think the worst is factored in terms of the run-up that we did see. do you agree with that? >> i think right now there's one of two paths. you look at oil companies that are up and down stream. they have different exposure to an event like a hurricane. of course, depending on the routing of the storm, you have to see it in the gulf of mexico. you have a complete different scenario with refining companies downstream like marathon petroleum and marathon oil. one is going up, one is going down because of what is going on there.
so it depends on exactly what kind of company you're looking at. >> neil: you touched on it. but this idea that we're over labor day and that's the unofficial end of the peak summer driving season. maybe that will be the wind on the back of consumers who have gotten sticker shock. doesn't effect the supply disruptions happening in florida and texas. a lot of those are emotionally driven, panic driven. unique to those states, right? >> that's right. you see a hurricane coming, that's one of the things on the checklist. make sure you have gas, go fill up your car, so on and so forth. it's not too much of a surprise to see the normal reaction of going out and filling your tank. now, it's a little problem after harvey because colonial pipeline is running tight on slow. you can run into issues with motorists trying to get out of florida and georgia and the carolinas because colonial has slowed to a trickle.
after the storm, tremendous demand destruction and that could allow breathing room for these areas to return back to normal. >> neil: all right. thank you. i don't know if we lost the connection. i apologize. white house correspondent kevin corke is at this event in north dakota. kevin, i think that's heidi heitkamp, the democratic senator. that's her hometown, right? >> listen, the president talking taxes. only this time he's coming with the democratic senator in tow. listen, i have to be honest with you, you'll hear and read records that suggest that somehow she's fully on board with the president's ideas about tax reform. her camp is saying dial that back a little bit. she's willing to listen and be fair if nothing else. as you can tell by the music, the president is in fact coming out to talk taxes and tax cuts here in the peace garden state
of north dakota. i'm going to step back and let you listen. ed. >> i don't want to interrupt the president here. he's going to make a pitch on tax reforms and tax cuts. here's the president of the united states. >> thank you for being here. we appreciate it. thank you very much. [applause] the policy we're talking about is cutting your taxes. you like that policy? [applause] you're the hard-working people
that provide the energy that makes this country run. we're finally getting the government out of the way so you can do your jobs. finally happening. [applause] prior to leaving the white house, i had a great bipartisan meeting with democrat and republican leaders in congress. and i'm committed to working with both parties to deliver for our wonderful, wonderful citizens. it's about time. we had a great meeting with chuck schumer, nancy pelosi and the whole republican leadership group. i'll tell you what, we walked out of there, mitch and paul and everybody, kevin, and we walked out and everybody was happy. not too happy. you can never be too happy. but they were happy enough. it was nice to see that happen for a change. that hasn't happened for a long time in this country, for a very long time. i want to take a moment to send our thoughts and prayers to people of texas and louisiana
who have suffered through a catastrophic hurricane. one of the worse hurricanes in our country's history. guess what? we have another one coming. our hearts are heavy with sadness for those that have lost everything. they have also filled us with hope because you watched and you witnessed the unyielding strength and resilience of the american spirit. you looked at that in texas, you looked at that in louisiana. you saw the spirit of so many people coming from all over. a great thing. i was there twice. i will tell you, the people were incredible. you would not believe this could have happened. i know you have a little bit of a drought. they had the opposite. believe me. be you're better off. you're better off. they had the opposite. the compassion of our citizens and the courage of our first
responders makes us all very proud to be an american. i can tell you i was deeply inspired by the faith and perseverance of those that i met and by all of the people that were there, so many people, and unfortunately now we're getting ready to respond to hurricane irma. and these incredible people that we have at fema and the other groups. they thought they would get a night of sleep. one night. just one night. they're not getting anything. they're right now going to florida, puerto rico and the virgin islands and they're already there. they're being hit with some very, very strong and powerful winds. the winds coming now, irma, they're saying is the largest one in reported history in the atlantic ocean coming out of the atlantic. big ones. so i just want to thank everybody and all of the people
that are going down. they're really now again in harm's way. we'll work together to help save lives, protect families and support those in need. together we will recover and we will rebuild. i also want to tell the people of north dakota and the western states who are feeling the pain of the devastating drought that we are with you 100%. 100%. [applause] and i've been in close touch with our secretary of agriculture, sonny purdue, who has been working with your governor and your delegation to help provide relief. we're doing everything we can. you have a serious -- i just said to the governor, i didn't know you had droughts this far north. guess what? you have them. we're working hard on it. it will all go away. i want you to know, we'll always
stand strong and unified with our farmers and ranchers, the backbone of america. i with tell you that 100%. [applause] we're here to talk about a plan of a new age of american prosperity by reducing the crushing tax burden on our companies and on our workers. the taxes are crazy. the highest taxed nation in the world. we're going to turn that around very quickly. this is a once in a generation opportunity. i mean that. this is the one time you'll get. i'm honored to be joined by the fantastic leaders that share the goal with us. senator holvin. senator, stand up.
come on up here. governor bergham, come on up here. beautiful job. come on. lieutenant governor sanford. [applause] the governor told me he's the best lieutenant governor in the country. so i don't know. we'll check it out. congressman cramer. [applause] senator heitkamp. come on up. [applause] and i have to say, you are all in favor of tax cuts, aren't you? >> absolutely! [applause] >> come on up, senator. these are great people. they work hard. they're for you 100%. we just want their support because we need support. you see that with what is
happening in congress. nobody can get anything through congress. we need support. so thank you, senator. senator heitkamp. everyone saying what is she doing up here? i'll tell you what. we'll have your support. i hope we have your support. thank you very much, senator. thank you for coming up. senators, thank you. [applause] they're all in good company together. by working together, we're going to restore america's competitive edge bypassing tax cuts and reform that will make america the best place in america to hire and to grow. we love our country, we love our people and we want to create nor jobs in america for americans. i want to welcome a great friend and a true american visionary
who has created thousands of jobs in north dakota and all around the country. he said i should do this, absolutely you have to do it. a great, great american success story, harold hamm. where is harold? come here, harold. thousands and thousands of jobs. you know, barry switzer was in my office. harold was a little bit late. barry was a great guy. he won a super bowl and a college number 1, right? we talked about harold, who is a great friend of his. said you know that guy, mr. trump -- that was before i was president -- he said that guy, his companies spend
billions and looking for oil and don't find anything. harold hamm puts a straw in the ground and oil flies out. that's why his rich, i guess. anyway, harold, thank you very much. want to say something? go ahead. >> you'll find oil in north dakota. >> thank you, harold. [applause] north dakota is an inspiring example of the amazing things that are possible when we unleash the genius of american innovators. we have to unite everything. are we getting rid of a lot of red tape, by the way? [applause] and we unlock the extraordinary potential of our great american workers. north dakota chose to embrace american industry and the
american worker even when many many washington wanted to tax and regulate your industries out of existence. you knew that. you've seen what has happened over the last number of eight months. you've seen what has happened. big difference. today families have new jobs and new hope because of the vast energy wealth that you brought to life right here. you understand the vital truth. washington has no right to shut down energy production because america's energy wealth doesn't belong to the government. it belongs to the people. [applause] it belongs to hard-working patriots like you because of the north dakota energy miracle -- and i call it a miracle. today this state has the lowest unemployment rate of any state in america. nearly half the national average. [applause] i want all of america to be
inspired by what has happened in north dakota and the north dakota example. this state is a reminder of what can happen when we promote american jobs instead of obstructing american jobs which has been happening, believe me. by the way, ivanka trump. everybody loves you. [applause] come up, honey. shall i bring ivanka up? come on. sometimes they'll say, you know, he can't be that bad a guy. look at ivanka. come on up, honey. she's so good. she wanted to make the trip. she said dad, can i go with you? she said actually "daddy, can i
go with you?" i said yes, you can where are you going? north dakota. oh, i like north dakota. hi, honey. >> hi, north dakota! we love this state. it's always a pleasure to be back here. you treated us very, very well in november. we like sharing the love back. thank you. >> thank you. [applause] >> she means it, believe me. since my very first day in office, i have moved at record pace and really we have gone at a record pace to eliminate the barriers that have been holding back our economy. you've seen it. so many jobs, stock markets at new highs. we're getting rid of one job killing regulation after another. we've lifted the restrictions on
shale oil. we've lifted those restrictions on energy of all types. we're putting our miners back to work. we've cancelled restrictions on oil and natural gas. we've ended the epa intrusion into your jobs and lives. [applause] we're refocusing the epa on its core mission, clean air and clean water. that's what i want. clean air. think of it. we talk about the environment. i want clean air and crystal clean water. that's what we want. in order to protect american industry and workers, we with drew the united states from the job-killing paris climate accord. people have no idea. many people have no idea how bad that was. and right here in north dakota,
the dakota access pipeline is finally open for business. [cheers & applause] one other politician if elected president would have done that one? they would have stayed so far away? i did it immediately. i didn't do it for jobs. it was the right thing to do. that is flowing now beautifully. so it was the right thing to do. we opened it despite so many people that were on the other side calling and asking for this not to happen. please, we don't want it to happen. i said why? they didn't know. there was no -- they just didn't want it to happen. so i did that. i also did keystone. you know about keystone. another one. big one. first couple days in office, those two. 48,000 jobs.
tremendous thing. i think environmentally better. i really believe that. environmentally better. so i'm keeping my promises to the american people. i do what's right. i don't think about it. i do what is right. [applause] we're seeing the results across the country, already unemployment is near at 16-year low. african american unemployment is at its lowest point since almost the turn of the millennium. wages are rising. optimism among manufacturers is at an all-time high. that's something i'm very proud of. they're moving back. the companies are moving back, the car companies are coming back, going to ohio and michigan and pennsylvania and lots of places, kentucky.
car companies. they're moving back. they have to move back. why should we be allowing other companies to make it, sell their cars, no cost, just put them through our borders, cause us unemployment? it's not happening that way. believe me. it's going to be more and more so. like you have to cut through red tape to do things? hard to believe, i have to cut through red tape to do things, too. they have it set. i'll tell you. america is back. it's back right on track where it should be. it's happening day after day after day. we have certain areas where you have to give notice of 90 days before you can touch an act. or before you can touch an executive order. then you have to wait another 30 days and another 90 days. all of those days are coming up. tremendous numbers of regulations have been cut. but soon you'll see even more. we're going to have regulation. regulation is not bad.
but you don't need 25 times what you're supposed to have. so we're going to have sensible regulation. [applause] but our country and our economy cannot take off unless we reform america's outdated tax code. this is so burdensome. our painful tax system has become a massive barrier to america's economic comeback. really is. we're personalized. it cost us millions of american jobs, trillions of dollars and billions of hours wasted on paperwork and on compliance. our tax code is a giant seven inflicted economic wound. in the last ten years, our economy has grown at an average of around 2% and some would say
less than that. when i talked to the leaders of other countries, i speak to them all the time, they're unhappy about 7 or 8 points of growth, gdp. i spoke to a leader of a major country recently, big, big country. they say our country is big. it's hard to grow. believe me, this country is very big. how are you doing, i said? i have very good relationships, believe it or not with the leaders of these countries. i said how are you doing? he said not good. not good at all. our gdp is 7%. i said 7%? i speak to another. how are you doing? not good. our gdp is 9%. if you looked at our number when we first got in, we were hitting 1% numbers. nobody even talks about it. well, last quarter, we hit 3% gdp. [applause]
i'll tell you what, a lot of that had to do with the cutting of the regulation. a lot of it had to do with optimism. a lot of optimism now. people are starting businesses that they had no idea that they would start a year ago. if we sustained 3% growth instead of 2%, only one point -- and i think we have a long way to grow -- i know we have a long way to grow -- that means 12 -- think of it. 12 million new jobs and $10 trillion of new economic activity over the next decade. think of it. $10 trillion. [applause] if we ever went to 4%, think of that or 5%. or 6%. let's see what happens. they were all sort of smiling when i say 3%. i must say we hit the number faster than i thought. but we hit 3% last quarter. if we want to renew our prosperity, restore our
opportunity and re-establish our economic dominance, which is what we should be doing, then we need tax reform that is pro growth, pro jobs, pro worker, pro family and yes, pro american. [applause] and anybody that is going to vote against tax cuts and tax reforms, whether it's in north dakota or anywhere else or anyplace else, you have to vote against them and get them out of office. it's so bad. [applause] this is not a close one. my administration is working with congress to develop a plan that will deliver more jobs, higher pay, lower taxes for businesses of all sizes and middle class families all across the nation. so it's not only business taxes, it's middle income families, it's families at every level.
every level. tax cuts. our tax plan represents a sharp reversal from the failed policy of the past. america's high tax rates punish companies for doing business in america and encourages them to move to other countries. that's why you see in so many states, including here for a period of time. now people are starting to say and companies are saying, they would leave for mexico and for other places. just routinely. well, we've stopped it and we're stopping it. we're not going to let it happen. there has to be a price to pay when that happens, when they let our people go and that happens. they think they can sell the product right back into the u.s.a. there's going to be a big price to pay and there's has been and that's why there's a big change. these washington policies have pushed industries and companies offshore who then import their goods back into america and lay off their workers in the process. we end up with nothing.
not going to happen. my administration strongly rejects this offshoring model and we embraced a new model. it's called the american model. very simple. the american model. under the american model, we're reducing the burdens of our businesses as long as they do business in our country. we want them to do business made in the u.s.a. we want them to do business in our country. we want our companies to hire and grow in america, to raise wages for american workers and to help rebuild our american cities and towns. that is how we will all succeed and grow together as one team, one people and one american family. it's love. one american family. [applause] we're going to get into great
detail over the next two weeks but we're working on it with congress now and coming up with very exacting numbers. but here are my four basic principles for tax reform. first, we need a tax code that is simple, fair and easy to understand. unlike what we have. [applause] our tax code has gotten ridiculously complex. this leaves to massive frustration, wasted time and wasted money. lots of wasted money. today the average taxpayer haas to wade through 241 pages of instructions to file a basic tax form. does anyone know that? 241 pages. a staggering 94% of the families need professional help to do their taxes. they have to get it, which is why the tax preparation industry generated $10 billion in
revenues last year. that's one business i want to drive down. sorry. h&r block will not be supporting donald trump. i can tell you. taxpayers spend $6 billion hours each year complying with the tax code. that's why we are proposing dramatic tax simplification. under our plan, 95% of americans will be able to fill their tax and file their tax returns on a single page without having the keep receipts, fill out schedules or track endless paperwork. we're giving hard-working americans their time back and we're giving them their money back. [applause] thank you. second, we will cut taxes for million class families. this is a major, major tax cut.
the biggest since ronald reagan. [applause] the pipe fitters and plumbers and nurses and police officers, all the people like you that pour their hearts to every penny earned, in both the officers and oil fields of america, you're the ones that carry this nation on your back, and it's time for you to get the relief that you deserve. it's enough. it's enough. that's why our tax plan will reduce taxes for our middle class and allow them to keep more of their own money, keep that hard-earned money where you can spend it the way you want to spend it or guess what? you can also save it. nothing wrong with that. it's your money, not the government's money. [applause] so we will provide tax relief to
middle income families through a combination of benefits such as raising the standard deduction, increasing the child tax credit and lowering tax rates substantially. [applause] third, we need a tax code that restores our competitive edge so we can create more jobs and higher wages for american workers. our plan will provide tax relief to businesses of all sizes and we will cut the business tax rate as much as possible, ideally, we would like to bring our business tax rate down to around 15%. that's a tremendous drop. [applause] all told, it's the greatest tax reduction in the history of our country. greater than ever before. that's going to be something. you'll see a rocket ship. you'll see something happen like you have never seen. we'll also dramatically reduce
the takes rate for america's small businesses, which have created more than 60% of the new private sector jobs in the recent past. tax relief is on the way for millions of sole proprietors, llcs and partnerships that report their income to their personal and they do this, they put it on their personal tax returns. people think of it as a business but it's on their personal tax returns. those people with those businesses will be tremendous beneficiaries. [applause] sounds like many of you have those businesses. tax reform will also benefit mid size businesses like north dakota garrenty and title company in mandan. you know that company, anybody? president nick hacker -- where is nick? hello, nick. how are you? how is business, all right?
getting better all the time. he says that he spends a fortune on accountants to navigate our complicated tax system. everybody knows the feeling. like millions of american businesses, he would rather spend that on higher wages for his 140 employees. workers in energy sector -- thank you. you have a lot of friends here, nick. the workers in the energy sector will benefit enormously as well. north
dakota, state senator jessica unruh -- where is jessica? hello, jessica. congratulations. doing a good job, right? that's what i hear. who is also an environmental specialist says lower business taxes will be a catalyst for energy companies to hire countless of new american workers. so important. we will also protect small businesses and family farmers
here in north dakota and across the country by ending the death tax. [applause] tremendous burden for the family farmer. tremendous burden. thank you. a tremendous burden for small businesses and businesses that are not necessarily liquid but great businesses where you're forced to sell. here with
us today, a fourth generation cattle rancher and a mother of five from bismarck. like many family ranches, julie worries about the death tax shutting down her family business and keeping it from being passed on to her children.
it's a deadly tax. julie, we're not going to allow the death tax, inheritance tax, whatever you call it, to crush the american dream. i'm not going to let it happen. fighting hard. thank you. ronald reagan proved that cutting taxes and american businesses helps american workers win in the world marketplace. president reagan lowered taxers, american businesses beat out the foreign competition. washington stood by while other countries adopted our playbook. they did it even better than us. they lowered their tax rates and reformed their tax systems to be more competitive substantially than that of the united states of america.
america went from leading the pack to following way behind. now our business tax rate is the highest in the developed world, 60% higher than our foreign competitors. puts us at a big disadvantage. we're behind france, behind germany, behind canada, japan, ireland, mexico, behind south korea. we're dead last. our high business tax is nothing more than a crushing tax on every product made in america. we have surrendered our competitive edge to other countries, but we're not surrendering anymore. [applause] we're going to reduce the american tax rate so that we can keep our jobs in america, create jobs in america and compete for workers right here in america meaning higher wages for american workers and greater
profits for companies. [applause] it's time to give the american worker a pay raise. that's what we're going to do. and finally, we must bring back trillions of dollars in wealth that is parked overseas and just can't come back. our tax system penalizes companies that bring wealth they have earned overseas back to america. as a result, corporations have parked trillions of dollars in foreign countries, money that could be and should be broad back into the united states where it can be invested in american companies, in american jobs and american workers. our tax plan will give these companies a chance to bring back these funds and bring them back and spend it in cities and towns all across our country.
the numbers you're talking about are staggering. [applause] the numbers we're talking about are probably between 3.5 and 5 trillion that cannot come back into our -- think of it. the democrats want it to come back, the republicans want it to come back. they have for years. nothing gets done. we're going to get it done. [applause] we're going to be switching from a worldwide tax system that encouraging companies to keep their funds offshore to a territorial system that encourages companies to bring their profits back home to america where that money belongs. it's our time to invest in our country. we want to build our communities and we want to build beautiful new ones. we want to rebuild the old ones. we want to hire.
you may have heard the term once or twice before, the fact is, we want it just like that beautiful man's hat. we want to make america great again. good hat. [applause] this is a once in a generation opportunity to renorm taxes, rebuild our economy and restore america's competitive edge. history has proven time and time again that there's no power on earth, more awesome, unstoppable than the will of the american people. you saw that on november 8. believe me. you saw that on november 8. [applause] if you demand it and if you call up people in congress, good people, sometimes maybe not the right intention, but good people, congress will deliver on it because they have no choice. call your congressman.
you have to call your senators, make sure that they do what they have to do. believe me, we haven't given up on healthcare. we haven't given up on healthcare. we never give up. one vote. one vote. think of it. one vote. [applause] terrible. terrible situation took place that night. we can't let that happen again. we cannot let that happen again. we'll get it done one way or the other. only if you demand it. only if you the american people tell congress to stop putting party first and start putting america first. only then will it happen. [applause] you can remind them that both of the reagan tax cuts were passed by a democratic majority in the house, a democratic speaker and
a vast majority of democrats of the senate, including a democratic senator from the great state of north dakota. it can happen. you listening, heidi? she's listening. [applause] yeah, she heard that. [applause] thank you. we're not going to put her on the spot. i'm not doing it. if democrats don't want to bring back your jobs, cut your taxes, raise your pay and help america win, voters should deliver a clear message. do your job to deliver for america or find a new job. do something else. just do something else. [applause] i'm asking all americans, republican, democrat, independents, join with me with each other to demand tax cuts and tax reform that will put america first. we're going to put america
first. it's time. [applause] we no longer have to accepted a tax code that lets special interests win at the expense of the middle class. we no longer have to accepted a rigged system. you know about rigged systems. we talked about that plenty of time in the campaign. you think anything is so different? we're going to make it different. we're going to get that straightened out, too. that rewards companies for shipping jobs overseas and punishes them for investing in america. they actually get punished under the tax code for investing in our country! it's going to all change. we can heal the self-inflicted wound and we can re-establish our economic dominance all over the world. we can give our workers the level playing field they deserve and they will win because if the fight is fair, no one on earth
can beat the american worker or the american company. nobody. nobody. [applause] when we do, store shelves across this country, the shelves will be so packed. all around the world will be lined once again with products, proudly bearing the words "made in the u.s.a." so do you remember when we're growing up, it was made in the america or made in the u.s.a. what do you like better? ready? made in america or made in the u.s.a.? you like made in the u.s.a.? seems to be. yeah. we should pick one or the other probably. but we want to have one or the other. i think made in the u.s.a., right? [applause] such pride in that label. such incredible pride. it's coming back again, believe me.
it's coming. the quality of what we do is second to none. if america comes together, if the people speak with one voice, we will bring back our jobs, bring back our wealth and for every citizen across our great land, we will bring back the american dream. bring it back. i want to thank the people of north dakota who have been so incredible to me. i have so many friends here, i have so many people that i respect from this incredible state. i want the thank you. i want to say god bless you, god bless the american worker and god bless the united states of america. i appreciate you being out here today. thank you. [applause] >> neil: the president made it clear that he thinks the momentum is behind him on tax cuts. that has been tested today with
a deal of congress to patch aid, harvey aid and a debt ceiling extension at least until mid december. he's on his way. the president is convinced he is now going to get the tax cuts. that will do it here. >> i am shepard smith. first we've gotten a brand-new update, 5:00 eastern time from the national hurricane center on hurricane irma, the update is this. the storm is moving to the west-northwest at about 16 miles an hour. maximum sustained winds 185 miles per hour. no change from the 11:00 a.m. eastern time report we got from the national hurricane center. still 185 maximum sustained winds. that's a strong category 5 hurricane. let's find out about the track. let's go to our c