Trump promises 'giant tax cut' for Christmas with tax bill

Dec. 13 (UPI) -- President Donald Trump promised to give Americans a "giant tax cut" for Christmas during remarks about the Republican plan to reform the U.S. tax code on Wednesday.

Trump was joined by five families he said would benefit from the tax bill, which he said will close special interest loopholes, nearly double the amount of income that's taxed at zero, create more jobs and higher wages, and make America competitive again.

He added if Congress is able to send him the bill before Christmas the Internal Revenue Service confirmed Americans will see "lower taxes and bigger paychecks" beginning in February.

"We want to give you, the American people, a giant tax cut for Christmas," Trump said. "And when I say giant, I mean giant."

Trump's speech came hours after a meeting with House and Senate tax conferees. Congressional Republicans announced an "agreement in principle" on the tax bill Wednesday afternoon.

Trump called for Congress to pass the bill, but said he feared partisan interests may hold it up.

"We'll have very little Democrat support, probably none, and that's purely for political reasons," he said. "They like it a lot, and they can't say it."

Democrats have criticized the rush to pass the bill, and urged Republican leaders to wait for newly elected Alabama Sen. Doug Jones to be sworn in.