Trump wants lawmakers to move fast on taxes

Sunday, 17 Sep, 2017

The Senate Republican leader and members of the Budget Committee are scrambling to come up with a budget deal to clear the way for the first tax overhaul in three decades.

"They're starting to talk about tax cuts instead of tax reform", said former Sen. As for an actual law going into effect.

Sanford, who has always been openly critical of Trump, is outlining a chief frustration among Republicans on Capitol Hill: Trump, increasingly desperate to declare some policy wins, will tell anyone what they want to hear to get a deal through - regardless of what his party leadership is actually attempting to execute.

Members of the far-right House Freedom Caucus reminded Ryan on Thursday that he promised the group when he ran for Speaker in 2015 he would not bring any immigration bill to the floor that didn't have the backing of the majority of his 240-member GOP conference.

"More and more, we're trying to work things out together".

There has been no comprehensive US tax code overhaul since 1986, and starkly different visions embraced by the two parties for how to move forward promise to make the task hard. You like your plan?

"I think Democrats get that". We're hammering out the final policy details. "Tax reform" is a phrase that sounds great, but there would be real winners and losers if the effort gets rid of tax breaks for individuals and businesses. "We're not Greece yet, right?" And we're making good progress. One of Trump's major campaign promises was building a wall the entire length of the U.S. There has also been talk in the Senate about increasing tax rates on capital gains and dividends.

A key topic of discussion is Trump's push for Congress to send him a bill to cut taxes for corporations and individuals. The president is pushing to get rid of the estate tax. Nearly anything they do is going to have to end up cutting revenues.

But it takes Democratic help to lift the limits and their price, unsurprisingly, is more money for domestic programs.

But analysts warn that expanding the deficit would undermine economic growth by raising the federal debt burden and forcing interest rates higher. But, also, that alone won't complete it.

Diversification, innovation and investment will lift our nation and our economy only if we can be liberated from the burdensome, cumbersome, outdated tax code that puts USA businesses at a disadvantage in the global marketplace. They also don't have a plan on which to base a bill.

♦ They pulled it off thanks to two years of committee hearings and debates, most of which were open to the public. He told us in a couple of weeks, we will have a plan before us. That will be the end of tax reform, and probably Trump's last chance to accomplish something beyond filling a Supreme Court vacancy. And so if they want something as simple and fair as a postcard, we can deliver for them. I'm thinking hey, I'm excited about this, let's see what happens.

President Donald Trump says he'd still like to see the corporate tax rate reduced to 15 percent as he tries to sell lawmakers on his broad tax reform goals. Go, Congress; go. The president tweeted that lawmakers should act quickly to overhaul the tax code. He's hitting the road.

BRADY: President's all in on this. So if they ask me to be there, absolutely I will be there.

BRADY: Oh, yeah. Heavens, yeah. Allowing trillions in profits to return to our country would be a historic stimulus to USA investment and innovation and help accelerate the return of our national GDP growth to higher levels. Is there a lack of trust? I believe at 25 percent, we would be very competitive. I can just tell you my experience.

Mnuchin has said that tax reform is the president's "number one" priority. Thanks so much for speaking with us. Some details will be included in the template set to be released later this month, but the text of the legislation will ultimately be crafted by the House Ways and Means Committee.