Trump plays hardball in tax reform kickoff, singles out Dem senator
- Author: Megan Austin Aug 31, 2017,
Aug 31, 2017, 1:12
For one thing, most Republicans, including Trump, want to move on to a sweeping revamp of the tax code, and a shutdown debacle would only make tax legislation more hard.
The list of countries he singled out for having low corporate tax rates were France, Germany, Canada, Ireland, Japan, Mexico and South Korea.
The US tax code has not been modified significantly since 1986, despite numerous efforts.
An official said Trump will discuss tax reform at a White House meeting next Tuesday with the "Big Six" tax reform negotiators: Mnuchin, Cohn, House Speaker Paul Ryan, Senate Republican leader Mitch McConnell and the Republican chairmen of two congressional tax committees.
The economy has been bright spot for Trump's troubled presidency, with unemployment rates falling and growth rates reaching their fastest clip in over two years.
Schumer says Republicans shouldn't use "fuzzy math or brazenly partisan estimates" to claim their tax plan wouldn't add to deficits.
Trump quipped that his proposal to do away with loopholes may not be preferable to wealthy people like him and the owner of the Loren Cook Company, but portrayed it as the right thing to do for workers.
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The new plan will resemble the Bush-era legislation, as well, by including many tax cuts that come with expiration dates.
Speaking from a manufacturing plant in Springfield, Missouri Wednesday afternoon he said his administration wants to work with Congress on a plan that is pro-jobs, pro-workers, and pro-America.
Slashing corporate rates was one of four broad points Trump made during the address, though he didn't provide detail for any of them.
The traveling White House press pool reported shortly before 11 a.m. CT that Senator Blunt and Mr. Trump boarded Air Force One. In other words, the administration is planning to push tax reform through regular order, and not, as was the case with Obamacare repeal, through the Senate budget reconciliation process, which allows Republican leadership to bypass Democratic filibusters and requires only 50 yes votes.
"I really hope that something can be done to change at least parts of it, because it has taken all incentive away from investing in real estate really means so many jobs", he said in the clip published by the Times.
Protestors are expected to be on hand as well. "I hope so. Tell you what - the USA is counting on it".
"I think Congress is going to make a comeback", he said.