WASHINGTON (dpa-AFX) - President Donald Trump continued his push for tax reform while also attacking Democrats in posts to Twitter on Monday.
Trump cited conservative economist Art Laffer, who served in former President Ronald Reagan's administration and acted as an adviser to the president's campaign.
'Art Laffer just said that he doesn't know how a Democrat could vote against the big tax cut/reform bill and live with themselves!' Trump tweeted.
Laffer is well known for promoting his theory that lower tax rates spur economic growth and subsequently maximize revenue.
Trump also took a more direct shot at Democrats, claiming they 'only want to increase taxes and obstruct. That's all they are good at!'
House Democrats responded with tweets of their own claiming Laffer helped construct a tax plan in Kansas that is failing.
'The same Art Laffer who prioritized tax cuts for the wealthy while Republicans in Kansas cut higher education, pensions & vital services?' House Democrats tweeted.
They added, 'The same Art Laffer tax plan that was recently rejected by an all-Republican legislature because it FAILED Kansans?'
The tweets come as the Senate prepares to vote this week on a budget resolution that would allow Republicans to pass their tax reform plan with a simple 51-vote majority.
The GOP's tax reform plan includes a reduction in the corporate tax rate to 20 percent from 35 percent, a consolidation in the personal income tax brackets to three from seven, and a sharp increase in the standard deduction.
Trump also continued to tout the strength seen on Wall Street in the months since his election, as stocks have reached record highs.
'Since Election Day on November 8, the Stock Market is up more than 25%, unemployment is at a 17 year low & companies are coming back to U.S.,' Trump tweeted.
He added, 'The U.S. has gained more than 5.2 trillion dollars in Stock Market Value since Election Day! Also, record business enthusiasm.'
(Photo: Gage Skidmore)
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