Investing.com -- U.S. President Donald Trump expressed confidence on Tuesday that the recently revealed tax legislation is well-positioned for approval. This comes following the disclosure of the tax plan details by the House Republicans on Monday.

Trump, in his remarks at a business summit in Riyadh, stated that the United States Congress is close to passing the largest tax and regulation cut in American history. He suggested that this legislative change would significantly boost the country’s economy, likening it to a "rocket ship" for the nation.

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