Published: Thu, August 31, 2017
Global | By Maureen Mccoy

President Trump Pushes Tax Reform In Missouri Speech

President Trump Pushes Tax Reform In Missouri Speech

The White House is inviting both Republican and Democratic leadership in Congress - Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer, Speaker of the House Paul Ryan and House Minority Leader Nancy Pelosi - to meet with Trump Wednesday morning to discuss tax reform.

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

Trump also took a few stabs at the hard argument that cutting corporate rates would lead to job creation and benefits for people other than just the very rich.

Harvey aid is a fresh addition to an agenda already packed with must-do tasks and multiple legislative deadlines: Passing a stopgap spending bill to avert a government shutdown; increasing the government's borrowing authority to prevent a market-quaking default on US obligations; and paving the way for a GOP rewrite of the USA tax code.

Trump said his vision for re-writing the nation's tax system, one of his key campaign pledges, would unlock stronger economic growth and benefit companies and workers alike. "And Trump's proposed deep budget cuts to infrastructure, healthcare, medical research, and education won't help create jobs, either".

"There is no doubt that the president will make a bipartisan appeal on tax reform", the White House aide said.

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"True tax reform would close loopholes and make the system fairer for everyone".

The president's two top advisers on tax reform will be with him at the speech: Treasury Secretary Steven Mnuchin and White House economic adviser Gary Cohn, who are helping to guide the tax reform debate on Capitol Hill. It also called for income tax brackets to be set at 10%, 25% and 35% - the latter for the wealthiest Americans, down from the current 39.6% rate.

Administration officials have said Trump plans to hold events around the country in the coming weeks to promote the tax overhaul. "Now, the middle class really needs a tax cut". The main break Republicans want to end is the deduction for state and local taxes.

However, this could also be a sign that, as with health care, the administration is going to outsource tax-reform policy to Congress.

"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.

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