Worldwide

'It's time' for tax reform

'It's time' for tax reform”

President Donald Trump is planning to kick off one of the most important sales pitches of his presidency this week - getting Americans fired up about rewriting the US tax code.

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.

Trump says in Springfield, Missouri, that his tax overhaul plan will be "pro-growth, pro-jobs, pro-worker and pro-American".

And the benefits may never be realized if lawmakers simply pass a temporary tax cut for a few years, since temporary tax cuts are not considered good for sustained growth.

Treyz said congressional tax staffers she's spoken with are despondent over what they call an unexpectedly grim situation.

Trump's attempt to frame the debate comes as he and his administration have raised the need for tax reform in fits and starts since the early days of his presidency. "I hope so. Tell you what - the USA is counting on it".

He said "one by one we're fixing it".

Trump made the pitch during a speech promoting his administration's tax agenda, which is still lacking in any significant detail. This Axios story suggests that the administration is going to let the House Ways and Means Committee take the lead in drafting the details of tax reform. "I will not support any tax plan that only aids the top earners and corporations at the expense of the middle class".

Other factors: Time and magnitude may affect whether a corporate tax cut helps workers.

The president also said he'd like to "ideally" bring the corporate tax rate down to 15 percent from 35 percent, saying it would "make us highly competitive". That should help all those struggling white working class folks who voted for Trump.

After a year with no major legislative wins, the stakes are high for the White House and GOP leaders, who face mounting pressure to get points on the board before next year's midterm elections.

Still, Trump is expected to play a much more public role in driving support for tax reform, taking to the road more frequently to hammer the benefits of tax reform than he did during Republicans' failed effort to repeal Obamacare. There's "animosity" between Republican leaders and their members, and between House and Senate Republicans, she said.

"I would like a tax cut but I really don't think we (as a country) can afford to do that, right now", she said.



Like this

Latest


28 August 2017
Abbas Presses for Two-State Solution, Kushner Provides No Clarity
They talked to us about incitement. "We have told the Americans that we are committed to the American effort،" Khatib said.

27 August 2017
McGregor weighs in heavier than Mayweather ahead of big fight
Otherwise, he'll have a tough time hanging with an elusive defensive maestro like Mayweather , who should win handily. Mayweather walked down Zab Judah, whom he correctly determined was incapable of throwing punches while in retreat.

27 August 2017
Powerball: Single ticket scoops $758.7 million USA jackpot
Massachusetts Treasurer Deb Goldberg said she offered advice to the family about being careful with their newfound wealth. The Powerball jackpot is the largest grand prize won by a single lottery ticket in US history.

27 August 2017
Android 8 Oreo update for HTC 10, U11 and U Ultra confirmed
This means that companies can start customising the Android 8.0 Oreo in accordance with their device's UI styling. Autofill framework allows automatic log-in for apps where users have granted permission in Android Oreo .

27 August 2017
'No Rohingya to be allowed into Bangladesh'
The UN has condemned the attack and called for "all parties to refrain from violence, protect civilians and restore order". The group said the blockade is starving people to death.

27 August 2017
Blake Bortles Has Officially Been Demoted
I'm just trying to figure out who is going to be that guy in that position that can lead our team. He also made a deep throw to rookie Keelan Cole, who dropped the pass.

25 August 2017
Walmart, Google team up on a collaborative shopping vision
Though not discussed in either company's blog post , the move is likely a response to Amazon voice shopping via Alexa devices. Google Express already offers products from a variety of stores, such as Target Corporation ( TGT - Free Report ).

23 August 2017
SC parents name newborn daughter in honor of total solar eclipse
She was due to give birth on September 3 but instead went into labour early and had her baby at Greenville Memorial Hospital. Parents Freedom and Paul Eubanks welcomed baby Eclipse to the world at 8:04 a.m.at Greenville Memorial Hospital in SC .

22 August 2017
Man City announce departure of Nasri
Nasri has agreed personal terms with the Turkish club and the deal will be completed subject to worldwide clearance being secured. City are not expected to receive even half of their original asking price in the deal.

22 August 2017
Of Course Donald Trump Looked at the Eclipse Without Glasses
The one rule of Monday's total solar eclipse was not to look at it without special glasses. The solar eclipse was over from coast to coast in 90 minutes.



Recommended