Published: Fri, September 01, 2017
World Media | By June Phelps

Trump pushes Congress for tax reform

Trump pushes Congress for tax reform

"In laying out what he called his principles for a tax overhaul, Mr. Trump made no mention of insisting that cuts be offset by corresponding increases to avoid adding to the deficit, essentially acknowledging publicly what his aides have privately for weeks: that he is willing to accept a plan that adds to the deficit, which had always been considered anathema to many conservative Republicans".

The President's speech which only briefly touched on policy details surely didn't mask the challenge he and a Republican Congress will face in ensuring a true overhaul of the tax code.

Trump Didn't Make Republicans" Job Any Easier: "B$3 y embracing a 15 percent tax rate for pass-through businesses (with no accompanying anti-abuse rules), a new child care subsidy, and a special low rate for unrepatriated foreign income Trump seemed to be endorsing three new provisions that could meet the definition of special interest loopholes.

"Lower taxes on American business means higher wages for American workers", he said.

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Trump set out four tax reform principles: simplicity, a competitive tax code, tax relief for the middle class and global corporate tax reform. The president said the US just hit three percent GPD, and he thinks it can go even higher.

"As the president said today, nobody spends money more effectively than families spending money they way they want to spend it, rather than the government deciding how to spend it for them", Blunt said. Republicans control both chambers of Congress, but there is hardly a consensus on tax reform, and talks on the issue is set to be arduous. In a Thursday statement, AT&T CFO John Stephens said fixing the "broken" tax code would be key to "spur greater investment and job creation" from businesses of all sizes.

But what he doesn't note is that while on paper the U.S. business tax rate is exceptionally high, in practice the United States taxes its businesses at similar rates to its global peers.

"I really can't think of much, aside from hopefully galvanizing support and unity in opposition to him and his policies", wrote another 30-year-old man. But relatively few companies pay the top rate.

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However, he said that even if the tax cut plan passes through congress, "Ireland will still have one of the lowest tax rates in the world". The nearly $1 billion cut was meant to help finance Trump's proposed border wall.

Congress returns next week when leaders of both parties are scheduled to meet with Trump at the White House. "You know what? The United States is counting on it". The conclusion can be drawn that the Democrats' thirst for power has become so great that they would be willing to abolish the electoral college from our Constitution if it would help their party win the next presidential election. "If they don't do their job, they need to be fired", Armstrong said.

"We expect to hear their proposal for getting done all that we have to get done in September", said Schumer spokesman Matt House.

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