Trump speaks to National Association of Manufacturers - live updates
President Trump is promoting his "big, fat tax cut" in his address to the National Association of Manufacturers (NAM) Friday, along with the words "Made in the U.S.A."
The president introduced a tax framework earlier this week that features a dramatic cut to the corporate tax rate -- from 35 percent down to 20 percent -- as well as tax policies to ease the burden on U.S. companies and a proposal to coax companies to repatriate their overseas profits.
He'll also be highlighting the policy steps his administration has taken to help manufacturers already.
"When we grow American manufacturing, we don't only grow our jobs and wages - we also grow the American spirit," President Trump will say, according to a senior administration official. "When we purchase products made in America, fashioned by our fellow citizens, we renew the bonds of national loyalty that link us all together."
The administration has come under scrutiny in recent weeks for failing to get a health care bill through Congress, and for the possibility of delay on the GOP tax plan.
NAM has embraced the president's proposals.
"Manufacturers in America have never been as enthusiastic or as optimistic about their future as they are this year, and that is because of the huge opportunity we have to get tax reform done," said the association's president and CEO, Jay Timmons.
Updates from Trump's speech below:
Trump concludes his speech
The president's speech ended at 12:10 p.m., after he largely stuck to his prepared remarks. The president did veer slightly off at the beginning of his speech to hit Puerto Rico for being unprepared for the hurricane.
Trump: This can be the moment we take "control of our destiny"
Mr. Trump said this can be remembered as the moment the U.S. took "control of our destiny," to conclude his speech.
"This can be remembered as the moment we took control of our destiny and chose a future of American patriotism," the president said.
Trump says his plan will be "rocket fuel" for economy
Mr. Trump said his proposed changes to business taxes will be "revolutionary," with the top tax for businesses landing at 25 percent.
"This will be the lowest top marginal income tax rate for small and medium-sized businesses in 80 years. The lowest in 80 years," the president said. "And it will be rocket fuel for our economy."
The president also pointed out his plan would let business owners write off equipment in the year they purchase it.
"It will be great. It will be truly great," he said.
Trump says his plan replaces "confusion with total clarity"
Mr. Trump said his plan replaces "confusion with total clarity," by doing a number of things.
The president said the "vast majority of families will be able to file their taxes on a single sheet of paper," with his new plan.
He also touted the repeal of the Alternative Minimum Tax, a tax on the wealthy that forced him to pay $31 million in taxes in 2005.
Trump says U.S. economy taking a "little bit of a hit" from hurricanes
The president touted economic growth under his administration, but acknowledged this quarter may not end as well, given Hurricane Irma, Hurricane Harvey and Hurricane Maria.
For those reasons, the economy will take a "little bit of a hit," the president said.
Trump: We want "beautiful, fast, efficient" regulations
The president touted some of his efforts to repeal regulations, such as within the Environmental Protection Agency.
The president said the goal is "beautiful, fast, efficient" regulations that work well for businesses.
Trump claims "biggest-ever" tax cut in U.S. history
The president then shifted from Puerto Rico to manufacturing.
"Made in the U.S.A. is a global symbol of unrivaled excellence," the president said.
At the center of the country's excellence, and goals to help manufacturing, is a, "giant, beautiful, massive, the biggest ever in our country tax cut," the president said.
The president's plan significantly cuts taxes for businesses, and some for the wealthy, but does not appear to have a significant impact on low and middle-class families.
Trump says locals in Puerto Rico unable to handle crisis
Mr. Trump began his speech by offering thoughts to those in Puerto Rico facing a "catastrophic" situation.
"This is an island. Surrounded by water. Big water. Ocean water," the president said.
"All appropriate departments of our government from Homeland Security to Defense are engaged" in the efforts, the president said.
The president said this is probably something never seen before, and local governments are "totally unable" to handle it alone.
The president said the U.S. has to send truck drivers, as local drivers there are tending to their families.
The president cited tremendous debt "already" on the island.
Trump takes the stage
President Trump stepped on stage, shaking the hands of people behind him.