Trump’s Tax Reform

Vocabulary

Video: Trump’s Tax Reforms

Transcript

Mike Pence, US Vice President: “Further amendment, the Tax Cuts and Jobs Act is passed.”

The Senate vote was always going to be the close one. But in the end, the Republican majority stuck together to passed the bill along party lines.

Republicans were already celebrating after the measure cleared the House for the first time, by a comfortable margin of 24 votes.

The revote is unlike to change the outcome, although the errors behind it give more ammunition to opponents.

Chuck Schumer, Democratic U.S. Senator: “It’s a perfect microcosm of the hasty and reckless process that produced this legislation. If my Republican friends think these are the only mistakes that will be found in their bill, they’re sorely mistaken. Many more will almost certainly be unearthed.”

The legislation provides steep tax cuts for businesses and the wealthy, and more modest cuts for middle-class and low-income families.

It will slash the corporate tax rate from 35% to 21%.

Prior to the vote, White House Press Secretary Sarah Huckabee Sanders defended the reform.

Sarah Huckabee Sanders, White House Press Secretary: “This is a tax package that prioritizes the middle-class, certainly does that. This is something we wanted to benefit all Americans, and that’s been the focus all along.

So that’s what we continued to push for. That’s been the president’s priority.”

Earlier, more than a dozen people were arrested for blocking the entrance to the New York Stock Exchange.

Protesters held signs and chanted slogans against the bill.

Protester: “This bill is class warfare on part of the rich. It’s all about the donors to the Republican Party. We have to defend our people. All of our people.”

President Donald Trump insists the cuts will not drive up the deficit, saying they will attract more investment and lead to robust economic growth. That he claims will create new jobs, bolster wages and fill public coffers.

Questions

1. The tax reform (cuts) bill was passed by the US Legislature. True or false?

2. Did the U.S. senators vote individually or collectively?

3. The measure (legislation, bill) was perfect without any discrepancies. Is this correct or incorrect?

4. What were the details of the bill?

5. Will the tax reforms be positive for the U.S.? What do proponents of the bill say?

6. Everyone was cheering and celebrating the passage of the legislation. Is this right or wrong?

7. Was there a protest to the bill? What did one of the protesters say?

A. Are taxes in your country very high, high, moderate, modest, rather low or very low?

B. Do different people have different ideas about taxation? What are they?

C. Do you think taxes should be much higher, higher, lower, much lower or remain the same? Should there be a flat tax or progressive tax or in the middle?

D. Is there a lot of controversy, argument and fighting over taxes?

E. What will happen in the future?