Thur, Nov 2, 2017: Trump meets with Republican legislative leaders (readout)

Remarks by President Trump at Meeting with House Republican Leaders and Republican Members of the House Ways and Means Committee

Cabinet Room

1:56 P.M. EDT

THE PRESIDENT: Well, thank you very much. I’d like to thank the Republican members of the House Ways and Means Committee who are here today to discuss the incredible plan to cut taxes. Now, it’s reform and it’s lots of other things, but we’re cutting taxes. It’ll be the biggest tax cut in our history.

There’s nothing more important to our economy. We see what’s happening with our economy and how well it’s doing. This is going to really bring it to the next level.

Before we begin, I want to make a very brief announcement. I had an excellent meeting today with Chairman Grassley and other lawmakers on immigration reform following the terrorist attack in New York. I’m calling on Congress to immediately terminate the diversity visa lottery program. It’s a disaster for our country.

This program grants visas not on a basis of merit, but simply because applicants are randomly selected in an annual lottery. And the people put in that lottery are not that country’s finest. We know that the program presents significant vulnerabilities to our national security. It’s a very unsafe program for our country, and we’re not going to allow it to happen, and end that program. So I think Congress will take that up very quickly.

Additionally, Congress must end chain migration so that we can have a system that is security-based, not the way it is now. And we want a system, ultimately, that’s merit-based so we can bring in people that will help our country, grow our country, and be safe for our country. We want to select people based on their ability to contribute to our country, not choose people randomly — we have no idea who they are — or based on extended family connections. You have people bringing in 24, 25, 26 people when they come in. We have to end chain migration.

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Thur, Nov 2, 2017: Trump nominates Jerome Powell for Federal Reserve chair

In an address from the Rose Garden at the White House Thursday, President Donald Trump has announced his nomination of Jerome H. Powell as the next chair of the Federal Reserve.

Powell is known as a centrist Republican who is not expected to lead any sharp change of direction for the Fed at a time when the stock market is strong and unemployment is at a 16-year low.

As a member of the Board of Governors of the Federal Reserve since 2012, Powell has supported the Fed’s ongoing strategy of gradually raising interest rates and may be friendly to the Trump administration’s plan to roll back regulations on financial firms. Continue reading “Thur, Nov 2, 2017: Trump nominates Jerome Powell for Federal Reserve chair”

Thur, Nov 2, 2017: Trump announces Broadcom will move back to U.S.

President Trump on Thursday announced that semiconductor company Broadcom Limited is moving from Singapore back to the United States.

That means billions more dollars in annual revenue for Americans, Mr. Trump said. The company employs roughly 7,500 American workers. The announcement comes on the heels of the announcement of the GOP tax plan.

“It’s a great day for the America worker,” Mr. Trump said. “The stock market is at an all-time high. Unemployment is at it lowest level in almost 17 years. We know have had two straight quarters of three percent or more economic growth. For those of you who don’t understand that, this is a tremendous increase over where it was and we’re going higher. Jobs have been off-shored to so many countries that we’re now coming back and now that jobs and those companies are coming back to our great American home.”

–CBS News