Trump: Americans Will Get 'Giant Tax Cut' For Christmas

WASHINGTON, DC — President Trump said Wednesday he wants to give the American people “a giant tax cut” for Christmas during a speech to promote the GOP legislation. You can watch the speech above.

“We’re reclaiming our destiny as Americans,” Trump said. “When the government loosens its grip, there is no summit we can’t reach.”

Trump was accompanied by families who are said to benefit are the tax bill. Some of the family members spoke during the event, saying what they would spend their tax cut on.

"The typical family of four earning $75,000 will see an income tax cut of more than $2,000, slashing their tax bill in half," Trump said. "It's going to be a lot of money. You're going to have an extra $2,000."

The speech came as the final stretch of the GOP tax overhaul has been thrown into question by the election of Democrat Doug Jones from Alabama to the U.S. Senate Tuesday night. With Jones set to take over for Republican Sen. Luther Strange, Republicans will lose one key vote in their effort to pass the legislation. With a slim 51-49 majority in the Senate, the thin margin for error could doom the bill.

Republicans may rush to pass the bill before Jones takes over for Strange.

The overhaul could yet pass. But as lawmakers work to reconcile the bills already passed in House and Senate — the last step before Trump would be asked to sign the plan into law — new issues and disagreements may arise. Trump's speech served as an opportunity to rally his party in the wake of its electoral defeat.

Trump told reporters Wednesday that Republicans are "very, very close to a historic legislative victory" on taxes. He said that a deal is "very, very close." He added that it is "very important" to vote on the legislation next week.

House and Senate GOP leaders have forged an agreement on an overhaul of the nation's tax laws. It paves the way for final votes next week to slash taxes for businesses and give most people tax cuts starting next year.

Also See: Democrats Livid Over Tax Bill At Conference

The Associated Press contributed to this report.

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