Tag: GOP tax plan

Action on Trump’s tax cut plan could be delayed until next year

The following article by Damian Paletta and Kelsey Snell was posted on the the Washington Post website August 1, 2017:

The White House’s push to quickly pass a major package of tax cuts through Congress is facing a fall calendar full of legislative land mines, potentially delaying a key part of President Trump’s agenda into at least 2018.

The Trump administration sees tax cuts as an achievable victory after a string of failed attempts to pass other parts of the president’s legislative agenda, as well as a proposal that could unite a party fractured over Senate Republicans’ failure last week to vote through a repeal of parts of the Affordable Care Act. Continue reading “Action on Trump’s tax cut plan could be delayed until next year”

Behind the Rhetoric of Trump’s and Congressional Republicans’ Tax Plans

The following article by Seth Hanlon was posted on the Center for American Progress website August 1, 2017:

President Donald Trump walks with Treasury Secretary Steven Mnuchin as they look at portraits of the previous secretaries of the Treasury, April 21, 2017, at the Treasury Department in Washington. Credit: AP/Alex Brandon

On July 27, the White House and congressional Republicans released a joint statement of principles on taxes. The statement is intended to give momentum to a push for major tax legislation this fall. To bolster this effort, outside groups funded largely by the billionaire Koch brothers are preparinga “grassroots” lobbying campaign to push for tax cuts for corporations and big business.

The statement of principles was gauzy and virtually devoid of any detail. But the plans that President Donald Trump and House Republicans have put forward provide a better indication of what kind of tax code changes they will seek to enact this fall. As Trump and congressional leaders travel the country to gather support for the undefined notion of tax reform, it is important to understand their tax plans and who they benefit. As this column notes, their rhetoric on taxes does not always map onto their substantive agenda.

Here are six things to watch for. Continue reading “Behind the Rhetoric of Trump’s and Congressional Republicans’ Tax Plans”

Fiscal discipline? Not now, as GOP pushes tax cuts

The following article by Stephen Ohlemacher of the Associated Press was posted on the Boston Globe website May 9, 2017:

House Ways and Means Committee chairman Representative Kevin Brady, a Texas Republican, is pushing for a tax cut package that offers the greatest growth for the greatest number of years.

WASHINGTON — Republicans relentlessly complained about big budget deficits during Democratic President Obama’s two terms, but now a growing number in the GOP are pushing for deep tax cuts even if they add to the government’s $20 trillion debt.

President Trump said he is pushing for ‘‘the biggest tax cut in the history of our country,’’ as Congress tries to overhaul the tax code for the first time in more than 30 years.

It won’t be easy. Congressional Republicans are divided over concerns about the government’s debt, and Senate rules make it difficult to pass deep tax cuts without support from Democrats, something majority Republicans are not actively seeking. Continue reading “Fiscal discipline? Not now, as GOP pushes tax cuts”