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GOP tax plan offers hope, but big hurdles remain - Source Thehill

Posted on Sep 27,2017
Filed Under Local Politics , Politics,
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Source Thehill

BY NAOMI JAGODA

WASHINGTON, DC. - President Trump and top Republicans on Tuesday sought to drum up momentum for their next big legislative push in tax reform, desperate for a win after the GOP’s failure to repeal ObamaCare.

Trump administration officials and Republican leaders are set to release a long-awaited joint tax document Wednesday, which the president will promote in a speech in Indiana. The contours began to emerge on Tuesday, likely three individual tax rates ranging from 12 percent to possibly 35 percent or higher, with a near doubling of the standard deduction.

Their message: provide tax relief for the middle class, increase business competitiveness and boost economic growth.

After months of starts and re-starts and the dragged-out efforts on health care, Republicans are eager to change the subject. And some kind of legislative success on taxes is now critical to show they can govern ahead of the 2018 midterm elections.

Source Thehill



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