nsnbc : Following at least interim collapse of attempts to repeal and replace the United States’ health care plan, President Donald Trump noted that he will be turning his attention to a major overhaul of the tax system.
At a White House meeting on Friday after Republicans withdrew legislation to replace the Affordable Care Act, commonly known as Obamacare U.S. President Donald Trump said “I would say that we will probably start going very, very strongly for the big tax cuts and tax reform. That will be next.” Republicans and the Trump administration were forced to cancel a vote on the replacement bill in the House of Representatives because it did not have enough support.
Earlier Friday, Treasury Secretary Steven Mnuchin said during an interview with the news site Axios that he has been overseeing the administration’s tax reform bill for the past two months. Mnuchin added that he bill would include proposals to cut individual and corporate taxes. “Our primary focus is a tax cut for the middle income and not at the top.”
Mnuchin declined to answer questions about what corporate tax rates would be proposed other than it would be a lot lower than the current 35 percent. Mnuchin didn’t comment on whether the tax proposal would include a border adjustment tax that is part of a House tax plan. The adjustment tax calls for a 20 percent tax on imports. He added that the tax plan probably would be introduced soon and that he hopes that it will win congressional approval in August already.
Presidential spokesman Sean Spicer, for his part, told the press at the White House Friday an August deadline is an “ambitious one”. However, he noted that it is a goal the administration “is going to try to stick to.”
F/AK – nsnbc 26.03.2017
Source Article from https://nsnbc.me/2017/03/26/after-failure-to-overhaul-health-care-tump-goes-for-tax-reform/
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