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Trump Starts Tax Reform Push With Threats, Few Details

Trump Starts Tax Reform Push With Threats, Few Details

"The tax reform plan Trump announced today (Thursday) is a vital measure for strengthening U.S. prosperity as well as global prosperity through investment and job creation", said Secretary of state Rex Tillerson.

Senate Minority Leader Chuck Schumer says President Donald Trump's tax plan should not include tax cuts for the wealthiest 1 percent of Americans.

At least one member of Massachusetts' congressional delegation, however, raised questions about the president's plan. They've said the same thing in Gallup surveys going back a quarter-century as income inequality has widened in the US economy.

His point being what a better place to start his tax reform than in the start of America's main street, the historic Route 66.

"This is where America's Main Street will begin its big, handsome comeback", he declared. According to the pool report, "POTUS said the tax rate on companies is too high, which hinders competition, and he wants to drop the rate to 15%".

By all accounts, the White House has outsourced the crafting of crucial details to the Republican Senate and House majorities. He was also in the sixth year of his presidency, had fewer distractions than Trump and was more reluctant to add to the government deficit.

Trump said he hoped Congress would not disappoint on this campaign, appealing to Democrats and Republicans to work together. "And I don't want to be disappointed by Congress, do you understand me?" he said.

"I think Congress is going to make a comeback", Mr Trump said on Wednesday. "If she doesn't do it for you, you have to vote her out of office". "So they leave the money over there", said the USA president.

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US President Donald Trump described the new tax reforms as "globally competitive", and said that they would bring back trillions of dollars stacked overseas.

Still, Trump made plain the broad outlines of his vision for overhauling the tax code: a combination of deep cuts for businesses large and small as well as investors and the wealthiest, along with reductions for middle-class people, only partially paid for by eliminating some deductions and boosting economic growth.

Donald Trump has confirmed he wants to bring USA corporate tax rates closer to Irish levels. And if the Republican Congress can not get behind that their president on that unifying message, then it's not merely time to question their party loyalty. There's not enough money in all of the tax preferences in the entire tax code to pay for tax cuts that big.

The Democratic National Committee issued a statement saying tax plans put forth by Trump and Republicans in the past would have benefited the "super-rich and corporations over hardworking Americans". President Trump asked. "The United States is counting on it".

The tax push comes at a politically critical time for the White House and GOP.

The RATE Coalition advocates specifically for lowering and simplifying corporate taxes.

"We elected him congress!". If they fail to achieve the nearly impossible mission of quick tax reform, that pattern will likely repeat itself, too.


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