Ryan says tax overhaul plan to come this month

Lester Mason
September 17, 2017

In a statement following the evening's events, Manchin said that he was "glad to join the president tonight to discuss how we can work together in a bipartisan manner on tax reform". I can recognize and I appreciate where they're coming from, but it's not who I am and who I will be. But the failure of the GOP health-care legislation, which included a almost $1 trillion revenue cut, has scrambled party leaders' plans. Manchin said he told Trump that was all well and good, but rural America, including West Virginia, needs broadband connectivity before any other new technology.

FILE PHOTO: Chairman of the House Ways and Means Committee Kevin Brady (R-TX) listens as U.S. President Donald Trump speaks during a meeting with Republican Congressional leaders about tax reform at the White House in Washington, U.S., September 5, 2017. "Pretty much where they are".

Democrats have criticized Republican plans as too favorable to the wealthiest Americans and corporations. The only wealthy Americans who would see their taxes remain flat would be those living in states such as NY and California, Mnuchin said.

If Congress follows Brady's schedule and adopts a budget resolution by the middle of October, there will be 28 legislative days left on the House calendar in 2017. Specifics, including such basic matters as where to set the corporate tax rate and how to set up individual tax brackets, have yet to emerge. "I also told the President that tax reform is not a partisan issue and, to get my support, it must be deficit neutral so we aren't pushing our kids and grandkids deeper into debt".

After the morning House GOP meeting, Brady said that GOP leaders are working with Trump and the White House on the tax bill.

Separately, the tax-writing committees in Congress are holding a series of hearings on tax proposals and plan to release fully fleshed-out legislation by the end of the month.

"We had all the players there that were driving the train", Manchin told reporters Wednesday. During Wednesday's meeting, the president said his focus would be on lowering taxes for businesses to about 15 percent and boosting the middle class through tax cuts. Republican leaders have dismissed concerns about the lack of information, saying that tax discussion is still in the early stages and details will be worked out by the relevant committees. "So this is the beginning of a very important process to achieve for the first time in a generation overhauling our tax system and giving middle-class families a much-deserved break". "The House, the Senate and the White House are starting from the same page and the same outline, and then the tax writers are going to take it from there on the details". Trump has promised the biggest tax cut in USA history.

Manchin said this would not reduce revenue for several reasons.

Republicans have to agree on a 2018 budget resolution - a necessary step to unlock the procedural maneuver they intend to use to pass the tax plan with 50 votes in the Senate while avoiding any Democratic filibuster. Members of the conservative House Freedom Caucus have stood in the way of any budget until they see a clearer outline of the tax reform package leadership wants to bring forward. Opponents of the budget plan say they went along with GOP leaders' pleas this year that they had to pass a bare-bones budget to pave the way for repealing and replacing the Affordable Care Act.

"In order to get the size - the magnitude of the reductions that we want in the corporate and the individual rates and in order to get the sweeping reforms that we so desperately need - you absolutely will see an increase in the deficit in the short term", he said. "We did a face plant on that exact logic", Brat said.

Other reports by Iphone Fresh

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