Trump praised the achievements of the small-business sector throughout the history of the United States and said that he is “100 percent” behind them.
The president also spoke about a range of other topics, including illegal immigration, the North American Free Trade Agreement, tax cuts, border security, and health care.
On the topic of illegal immigration, Trump went into specifics on the family separation policy. He said that “crippling loopholes” caused the issue and that the government only has two policy options to respond to the crisis.
Trump also said that child smugglers are “very, very sophisticated.”
“They’ve learned the loopholes in this horrible, rotten system that the Democrats have to help us fix,“ he said. ”These smugglers know these rules and regulations better than the people that drew them.”
The tax reform bill signed into law last year offers a deduction of 20 percent of income for pass-through entities such as S corporations and LLCs. Under the old tax code, pass-throughs were taxed at 39.6 percent. In addition, under the new code, businesses can immediately deduct the full cost of their investments in new equipment.
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