August 31, 2017
Donald Trump Has a Plan for U.S. Tax Reform — Kind Of
Fresh off his visit to Texas, DT got right down to business yesterday, announcing his plans for tax reform in the U.S. Veering away from his typical “support the billionaires of the world” rhetoric, Trump promised that he would alleviate some of the “crushing tax burden” the middle class has had to deal with under previous administrations. While that all sounds nice, many speculate that this is a veiled attempt at tax breaks that would, in the end, benefit his comrades in corporate America. National Post
What Else You Need to Know
While POTUS kept most of the plan’s details under wraps (provided there are any plans), he did promise that his version of tax reform would be “pro-growth, pro-jobs, pro-worker and pro-American.” Speaking to employees at at a manufacturing plant in Springfield, Missouri, Trump totally stayed on brand and assured Americans it would be the “biggest ever” tax cut. While he seemed very confident that this is something that his administration would be able to push past the finish line, they certainly have their work cut out for them. When Congress reconvenes in September, they’ll be forced to deal with a long list of major issues, including raising the debt ceiling, funding the government (kind of a big one) and approving financial aid and resources to states affected by Hurricane Harvey.
The White House will have to work with both Republicans and Democrats to put together a tax bill that can get through Congress. (Good luck with that.)