'It's time' for tax reform

Geneva Matthews
August 31, 2017

"I've talked in a lot of my town halls about my support for simplifying the tax code by cleaning out loopholes and goodies for special interests, and lowering the corporate tax rate - as long as we're doing it all through the lens of strengthening Missouri's working families".

Trump owes his November election victory partly to his ability to get working-class Americans to support a range of business policy positions, including his call for slashing the US corporate tax rate to 15 percent from 35 percent.

He said "one by one we're fixing it". If it's not significantly lower relative to other countries, it's unlikely to be very competitive, muting its potential to boost investment and the USA economy.

That outline was also light on details - like who would be eligible for which tax brackets and whether or not the White House plan would increase the budget deficit. He said former President Ronald Reagan led the world by cutting corporate tax rates in the 1980's, boosting the USA economy in the process. Unfortunately, the debate has not fully begun and the issue has already been politicized with opponents claiming that tax reform will only help big business and top earners in our country. But what will help is if President Trump and his surrogates keep their laser focus on jobs and also middle class pay.

He pointed out that, during Trump's campaign, the then-Republican candidate promised to protect Medicaid and expand healthcare for everyone. Trump tells supporters, "I think Congress is going to make a comeback".

"Earlier in the year, I said I thought we'd get it done by August, and I was wrong, OK?"

Here's a backgrounder on a key argument the administration has been making to sell the benefits of tax reform for average Americans.

"There has been this unfortunate idea that everything has to be zero sum and certain people have to lose for somebody else to gain", said a White House official who spoke to reporters on condition of anonymity.

Trump shook Buckner's hand before his motorcade headed to the Loren Cook Co., a maker of fans, blowers and laboratory exhaust systems.

The administration and GOP lawmakers have set an end-of-year timeframe by which they expect the tax legislation to be completed. He expects protests to be peaceful.

In terms of policy, though, there are signs that the Trump White House is continuing to defer to Republicans in Congress.

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