Thank you, Mr. Chair.
Thank you both for being here today.
We had two witnesses come in before who talked a great deal about NAFTA and some of the intricacies of renegotiating the agreement, but there was very little about the tax changes being proposed by the White House, by Congress. It's unclear who's proposing what. I know people talk about Trump being unpredictable. I like to think of him as unconventional in his approach to the presidency and in how he and his cabinet behave.
In terms of the tax proposal, I'm always wondering which is the greater risk to Canadian business. Is it the renegotiations of NAFTA?
On the 10 points you mentioned, Ms. Greenwood, I went through a list of things that could be included, that may want to be included, as options. Or there's the tax reform. I'm just looking through it here. It has things such as simplifying the tax brackets on the personal side, repealing of the inheritance tax, doubling the standard deduction, repealing the alternative minimum tax. It also has reducing the corporate tax rate to 15% from 35%, which is a $3.7-trillion initiative that they have. It has repealing the tax on investment income. They're also talking about expanding child care benefits, and then repealing most deductions, except for mortgages and charitable giving. The other one that concerns me is the one-time tax on overseas profits. It is not very clear what they want to do.
To both of you, where should Canada actually be focused? Is it on this NAFTA renegotiation? Should we be pushing the Americans to play their hand? Or should we wait and focus on these tax changes they're proposing, which may actually go through much sooner and have a much greater impact on Canadian business?