White House Legislative Director Hopes for Bipartisan Support for Tax Reform Bill
Posted on Aug 2, 2017 in News
Legislative Affairs director Marc Short, acknowledging that the reconciliation process leaves little room for error, stated that he is hopeful some Democrats, including members of the Blue Dog Coalition and the Problem Solvers Caucus in the House, as well as red state Democrats in the Senate, will support the passage of a tax reform bill. Short expects that tax reform legislation will...
Senate Democrats Call for Bipartisan Tax Reform
Posted on Aug 2, 2017 in News
In a letter to the President and GOP Congressional leaders, the 45 of the 48 members of the Senate Democratic Caucus urged abandonment of the reconciliation process in favor of bipartisan tax reform. The Senate Democrats stated, however, that they would not support a bill that grants tax breaks to the wealthy or that adds to the deficit and thereby jeopardizes critical programs such...
House Ways and Means Committee Democrats Critical of Republicans’ Joint Statement on Tax Reform
Posted on Jul 28, 2017 in News
In response to Congressional Republicans’ and the Trump Administration’s unveiling of their joint statement on taxes, several Democratic members of the House Ways and Means Committee issued condemnatory press releases: Ranking Member Richard Neal expressed his disappointment over the Republicans’ decision to exclude Democrats from the tax reform process, stating that partisan tax...
White House Reconsidering Corporate Tax Rate Goal
Posted on Jul 19, 2017 in News
The Trump Administration, according to White House officials and advisors, is considering a corporate tax rate of 20 percent to 25 percent. While this estimate is higher than the 15 percent rate set forth in the Administration’s one-page tax proposal issued in April, one senior administration official explained that the April figure was a starting point for negotiations, with the...
Legislative Affairs Chief Predicts Unified Tax Plan in July
Posted on Jul 11, 2017 in News
White House legislative affairs chief Marc Short has stated that the Trump Administration intends to have a unified tax reform plan in place prior to Congress’ August recess, accelerating Treasury Secretary Steven Mnuchin’s previously stated target of early September. White House spokesperson Natalie Strom confirmed the July goal, adding that the unified proposal will be used to ready...
Tax Reform is Mnuchin’s ‘No. 1 Focus’
Posted on Jun 22, 2017 in News
Treasury Secretary Steven Mnuchin stated that the Trump Administration and Congress are wholly dedicated to passing tax reform this year. He foresees tax reform encompassing lower tax rates accompanied by cuts to special interest preferences and the implementation of a territorial tax system. Secretary Mnuchin observed that slow corporate tax receipts are a byproduct of the tax...
White House, Congress Agree on Timeline; Ryan Calls for Permanent Reform
Posted on Jun 21, 2017 in News
Speaking at the National Association of Manufacturers summit, House Speaker Paul Ryan confirmed that the White House and House Republicans concentrating on crafting tax reform have agreed to a timeline for a bill to be submitted. White House Chief Economic Advisor, Gary Cohn, has stated that they aim to introduce a bill to Congress in September. The Speaker reiterated his belief in a...
House Republicans Remain Divided Over Border Adjustment Tax
Posted on Jun 12, 2017 in News
With the GOP still looking for its first major legislative accomplishment under the Trump Administration, Conservative members of the House are calling for party leadership to abandon the proposed border adjustment tax in order to facilitate progress on tax cuts. Tim Phillips, president of the Koch-brothers backed “Americans for Prosperity” contends that House Ways and Means Committee...
White House Version of the Tax Bill Reportedly to Be Ready by Labor Day
Posted on Jun 5, 2017 in News
Faced with growing Republican discontent over the Trump Administration’s lack of definitive tax legislation, White House economic advisor Gary Cohn projects that Congress will receive President Trump’s detailed tax proposal by the time Lawmakers return from the August recess. If delivered, the proposal would have to share attention with Congressional efforts to raise the debt limit and...
Treasury Secretary Mnuchin Says Pass-through Rate Cut Not for the Wealthy
Posted on Jun 2, 2017 in News, Pass-through Taxation
On May 18, Treasury Secretary Mnuchin attempted to assuage fears that the Trump tax plan will favor the wealthy. Trump’s tax reform outline proposes a 15% tax rate on business income, including income of individuals derived from pass-through entities, which is currently subject to a top marginal rate of 39.6%. While the outline includes few details, some commentators have expressed...
Koch Brothers to Push for Focus on Tax Reform
Posted on May 19, 2017 in News
Billionaire Industrialists Charles and David Koch, via their Americans for Prosperity and Freedom Partners groups, will invest millions in the coming months to drive the conservative tax reform agenda amidst the Trump Administration’s distractions. The Koch network has released a set of guidelines for change, mainly consistent with the White House proposal, condemning the contemplated...
Pick for Treasury Tax Policy Post Announced
Posted on May 12, 2017 in News
The White House announced that President Trump will nominate David Kautter as the assistant secretary of the Treasury for Tax Policy. Kautter, who has previously served as counsel for former Senator John Danforth on tax legislation, will likely serve as a key player in the coming tax reform process. Read more here: Trump names pick for top tax position at Treasury
Comey’s Dismissal May Impede Reform
Posted on May 11, 2017 in News
The firing of FBI Director James Comey could weaken President Trump’s bargaining power with Congress and the administration’s ability to push legislation. Possible outcomes may include tax reform delays or a reform package much more similar to the House Republicans’ Blueprint plan rather than the White House agenda. Delay Seen, again, on Trump Growth Agenda after...
Rep. Brady Declares Border Adjustability Still a Priority After Release of Trump’s Tax Proposal
Posted on May 6, 2017 in News
Representative Kevin Brady stated in an interview with WND/Radio America that despite the Trump administration not mentioning the border adjustment tax in its tax reform proposal released two weeks ago, border adjustability was “still a priority.” The chairman of the House Ways and Means Committee characterized the tax as necessary since American “competitors,” including China, Japan...
Mnuchin Predicts Three Percent Economic Growth
Posted on May 2, 2017 in News
Secretary of the Treasury Steven Mnuchin states that tax reform and regulatory relief will help realize an economic growth rate of three percent within two years. Despite concerns over funding for the Whitehouse tax reform plan, Mnuchin sees several ways to offset lost revenue and is hopeful for bi-partisan support as he continues to work with congressional leadership. Read more at:...