Results 1 to 6 of 6
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
09-12-2017, 10:37 AM #1
Treasury Secretary Steve Mnuchin: We'll get tax reform done by the end of the year
Treasury Secretary Steve Mnuchin: We'll get tax reform done by the end of the year
September 12, 2017
1 Hour Ago | 03:07
Treasury Secretary Steven Mnuchin on Tuesday said the Trump administration is considering backdating tax reform to the start of this year to boost the U.S. economy.
Backdating "is still something we are considering and it would be a big boon for the economy," he said at the Delivering Alpha conference presented by CNBC and Institutional Investor.
Republicans aim to overhaul the American tax code but have faced various hurdles in their goal of passing a tax reform bill this year. Congress and the White House have not yet released a tax reform plan but are working this month to prepare legislation. Mnuchin heads to Capitol Hill on Tuesday to discuss tax policy with GOP congressional leaders, the latest in a series of meetings.
On Tuesday, Mnuchin insisted that a tax overhaul would happen this year.
"We're going to get this done by the end of the year," Mnuchin said, adding that the administration is "super focused" on the goal following the three-month debt limit and government funding extension passed last week.
On Thursday, the Senate Finance Committee will hold a hearing on individual tax reform. Sen. Orrin Hatch, the committee's chairman and one of the six primary tax negotiators, said he expects to share the plan with other lawmakers after that and other hearings.
On Friday, Trump urged lawmakers to push forward with tax legislation "ASAP," telling them not to wait until the end of September. Tax reform is one of the key planks of the agenda he pitched as a candidate, and he has made two recent speeches touting the benefits of changes to the tax system without offering new details.
Trump has promised a plan to chop personal income taxes, slash corporate and pass-through company rates and have a one-time repatriation tax to encourage companies to bring back cash parked overseas. Republicans still face questions about how they will make up for the revenue lost in major tax cuts, especially because they have abandoned border adjustment, a cash-raising provision championed by House Speaker Paul Ryan.
Mnuchin said that President Donald Trump's goal of chopping the corporate tax rate to 15 percent could be difficult to achieve.
"I don't know if we'll be able to achieve that given the budget issues. But we're going to get this down to a very competitive level," Mnuchin said.
The Treasury secretary also addressed deductions, most of which the Trump administration said it wants to eliminate under its tax plan. That includes getting rid of state and local tax deductions.
Mnuchin said he hopes the decrease in federal rates will help to offset the loss of those deductions.
Trump and White House officials have previously said they hope they can win over some Democratic senators on tax reform and reach 60 votes. It would mean the GOP would not have to pass the legislation through budget reconciliation, which would require only a majority vote and could pass with only the 52 Republican senators.
On Tuesday, Mnuchin said Republicans are prepared to use reconciliation if they cannot reach 60 votes. Some top GOP senators, including Hatch, have previously said they expect to have to use reconciliation.
https://www.cnbc.com/2017/09/12/mnuc...t-it-done.htmlA Nation Without Borders Is Not A Nation - Ronald Reagan
Save America, Deport Congress! - Judy
Support our FIGHT AGAINST illegal immigration & Amnesty by joining our E-mail Alerts at https://eepurl.com/cktGTn
-
09-12-2017, 10:39 AM #2
Wonderful. They need to pass Trump's plan as soon as possible.
A Nation Without Borders Is Not A Nation - Ronald Reagan
Save America, Deport Congress! - Judy
Support our FIGHT AGAINST illegal immigration & Amnesty by joining our E-mail Alerts at https://eepurl.com/cktGTn
-
09-12-2017, 02:42 PM #3
- Join Date
- Mar 2006
- Posts
- 7,377
Thanks to everyone who posts article. I don't know how to do it, but I do appreciate the ones who do.
I learn so much, so thank you all.
-
09-12-2017, 03:02 PM #4ILLEGAL ALIENS HAVE "BROKEN" OUR IMMIGRATION SYSTEM
DO NOT REWARD THEM - DEPORT THEM ALL
-
09-12-2017, 04:07 PM #5
- Join Date
- Mar 2006
- Posts
- 7,377
I may be past learning all that much - but again I do appreciate all those who do.
-
09-12-2017, 04:14 PM #6
We appreciate everything you do, too, nntrixie. Speaking out, expressing thoughts, exploring ideas ... it's how Americans have solved our problems and gained our success from the beginning of our country, it's why FREE SPEECH is the First Amendment. It all starts with sharing our ideas and expressing our opinions. 12 years ago I posted on this forum soon after I joined, that this would be hardest thing Americans have ever had to do, end this onslaught of illegal immigration, and we would win it with a War of Words. 12 years later, I still believe that.
A Nation Without Borders Is Not A Nation - Ronald Reagan
Save America, Deport Congress! - Judy
Support our FIGHT AGAINST illegal immigration & Amnesty by joining our E-mail Alerts at https://eepurl.com/cktGTn
Similar Threads
-
Trump and Pence attend Treasury Secretary Mnuchin's wedding
By Judy in forum Other Topics News and IssuesReplies: 1Last Post: 06-25-2017, 12:09 AM -
Senate confirms Mnuchin as treasury secretary, Shulkin to VA
By Judy in forum General DiscussionReplies: 1Last Post: 02-13-2017, 09:48 PM -
Trump Plans to Name Steven Mnuchin as Treasury Secretary
By JohnDoe2 in forum General DiscussionReplies: 1Last Post: 11-29-2016, 07:16 PM -
Sessions: Lew must 'never' be Treasury secretary
By Newmexican in forum Other Topics News and IssuesReplies: 1Last Post: 01-10-2013, 06:40 PM -
China Brings US Treasury Holdings To One Year Low, Russia Cuts Treasury Exposure 50%
By AirborneSapper7 in forum Other Topics News and IssuesReplies: 1Last Post: 01-20-2012, 07:21 AM
Nicaragua Sees Nearly $1 Billion in Remittances from the U.S. in...
04-29-2024, 07:12 PM in illegal immigration News Stories & Reports