President Donald Trump Goes On Road Trip To Sell Tax Reform Plan

Jerome Frank
August 31, 2017

Including nearly no specifics, Trump said his plan aims to simplify a convoluted tax code, lower rates on both corporations and workers, close special-interest loopholes and encourage the repatriation of trillions of dollars back into the USA economy.

And in a 1999 op-ed in the Wall Street Journal about then-presidential candidate Bill Bradley, who had sponsored the bill, Trump described it as "an offense against the working man".

Democrats wasted no time on Wednesday hammering President Trump's proposed tax reform, saying the plan is merely created to benefit the wealthy at the sacrifice of everyone else.

"We must lower our taxes", Trump said.

But Trump's mission on Wednesday, administration officials said, was to frame the debate, not lay out a detailed proposal. But the White House and Congress have failed to sync up in their ambitions for reform amid disagreements and as lawmakers remained stuck on failed efforts to repeal Obamacare.

But the effort is already facing political headwinds.

They are heading to Springfield, Missouri where the president is expected to deliver remarks about tax reform.

The notice from the White House does not specify if this is a public event.

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That could choke off access to NY debt markets and substantially raise the likelihood of Venezuela being forced into default. Leaders of the fractious opposition coalition boycotted the July 30 election of the assembly.

"I believe this administration can and must do better in consistently and unequivocally condemning these groups and do everything we can to heal the deep divisions that exist in our communities", Cohn told the Financial Times in a striking rebuke of a president by one of his top advisers.

"This includes helping parents afford child care and the cost of raising a family", Trump said, adding that the issue was important to his daughter, Ivanka. The topic is tax reform.

"Anybody I forget?" Trump said, before moving on with his speech.

A lot of key questions remain on the Trump tax plan, which is at the heart of the administration's goal of achieving yearly economic growth of at least three percent.

Perhaps the most important question about the Trump tax plan for low- and middle-income Americans is who will pay for the tax cuts for high-income people and corporations.

The speech is unlikely to provide new details about a tax plan Trump's aides and Republican leaders in Congress are trying to hammer out in closed-door meetings in Washington. "That was below the average rate for developed countries at the time", Trump said.

Republicans quickly embraced Trump's pitch, vowing to work with the president to get a tax rewrite to his desk.

Other reports by Guamnewswatch

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