Congressional Republicans and the Trump administration, under pressure to deliver on what they hope will be the crown jewel of their economic agenda, appear close to formally jettisoning the controversial border tax proposed by House Republicans while still presenting a plan in two months that would include permanent changes to the tax code.
The Gop's Trillion Dollar Tax Problem
cwilhelm@politico.com (Colin Wilhelm), Politico
Fri, 06/23/2017 - 8:00am
Topics: president donald trump house speaker paul ryan house ways means chairman kevin brady september white house s joint committee taxation treasury secretary steven mnuchin rep mark meadows r-n.c house freedom caucus north carolina republican rep jim jordan r-ohio larry kudlow stephen moore united states whether national economic council director gary cohn senate finance committee republican ryan-brady means chairman dave camp r-mich mnuchin s capitol hill ronald reagan republicans trump house ryan brady white house republican house republican mnuchin meadows freedom caucus moore senate cohn trillion problem reform border adjustment plan rates administration cuts rate working permanent corporate budget senior part ambitious official remains close months proposed pass years officials leadership jettisoning congressional legislation percent budgetary major agree votes analysts significantly raise attached higher economists time position isn acknowledged temporary pressure goals set vocal point growth asked imports code aim engagement formally deliver companies path promised year passing split biggest final congress revenue expensing members deduction key senators overseas u.s effort table move issue principals businesses met cut july conservative lobbyists territorial system
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Those who back the idea say it would close the wealth inequality gap while allowing governments to spend more on social programs with tax revenues.
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