Everything you've always wanted to know about the Trump-Republican tax plan

Sergio Conner
September 19, 2017

"There are two different things that are happening: discussions in the White House and discussions on Capitol Hill", said Rep. Mark Meadows (R-NC), who chairs the House's most conservative faction in the Freedom Caucus and has positioned himself as an important negotiating figure in Republican-led tax reform efforts.

The U.S. Senate's top Republican tax law writer on Friday cast doubt on President Donald Trump's corporate tax cut aim, reflecting the rift between the president and Congress.

Kevin Brady, the chief House tax writer, told the chamber's Republicans that White House advisers and congressional leaders working on a tax plan will release a framework the week of September 25. Trump even returned to his refrain of saying he would be willing to raise taxes on the wealthy - something that seems out of line with Republican congressional leadership. They have made little progress since taking power in Washington in January via a closed-door process that has excluded Democrats. Black said the outline coming from the Big Six should help to assuage the concerns of those members.

President Trump continues the fight to reform the tax code by prioritizing the middle-class worker and creating more jobs.

Ryan said the outline to be released would reflect agreement among the tax-writing Ways and Means and Finance committees, and the administration.

Mr Trump rescinded the Obama-era programme under mounting pressure from the right, but gave Congress six months to find a legislative solution to allow Dreamers to stay in the US.

With the latest blueprint due in less than two weeks, Brady and Mnuchin appeared to differ on Thursday over how much detail the document would contain.

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There are all sorts of questions circling around if Congress will be able to get tax reform completed before the end of the year, but House Speaker Paul Ryan (R-Wisc.) said Congress has an "aggressive timeline" for passing a tax reform bill before 2017 ends.

"It is still clearly possible that tax reform could be enacted over the next near. However, the signs are not particularly positive at the moment", analyst Jan Hatzius of investment bank Goldman Sachs said in a research note on Thursday.

Brady, caught slightly off guard by the president's comments, responded briskly: "My goal is to lower taxes on every American", he told reporters.

Revenue neutrality is fast emerging as a divisive issue in Congress, where deficit hawks have expressed misgivings about adding to the deficit.

Trump departed the White House yesterday morning to view the aftermath of Hurricane Irma. That goal may be hard; 45 of the 48 Democratic senators signed a letter earlier this year that laid down three conditions for supporting tax legislation: that it not add to the federal deficit, that it not increase the burden on the middle class and that it go through the regular order process in Congress.

Senator Joe Manchin, a West Virginia Democrat who was among the group that met with Trump Tuesday night, said during a Bloomberg Television interview Wednesday that the president stressed his plan would offer tax relief to the middle class, not a "tax cut for the rich".

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