Congress seen as not likely to pass tax overhaul quickly

Katrina Soto
April 9, 2017

In the House, Republican leaders say any tax reform bill needs to include what they call "border adjustment" and critics call a new levy on imported goods.

President Trump claimed during the campaign his taxes were under audit and he would not release them, pursuant to his lawyers advice.

Trump himself hasn't weighed in yet - and that lack of clarity has left Ryan's plan without much political cover, leaving it open to attack, said Gray of the AAF.

White House officials are split on whether to endorse the creation of this specific tax. Texas Sen. John Cornyn said, "There's many unanswered questions about proposed border adjustment tax" in a January tweet.

There is a reason it's been 31 years since the last time Congress rewrote the tax code.

If it was true then, why not now?

However, officials from Cloud Peak Energy Inc. and Peabody Energy Corp. confirmed to Reuters they have been advising the White House to remain a party to the Accord in recent weeks.

A spokesman for Ways and Means Democrats had no immediate comment. The BAT, however, does not appear to be one of those items, thus Chairman Brady's seeming willingness to make changes to his proposal would seem to bode well for the prospects of tax reform. Others have tried to have it both ways. That made him the first presidential candidate in decades to never release his tax returns to the public prior to talking office. "It's a distraction and I think the American people should know", the AP reported. An aide dismissed the vote as a "partisan stunt".

South Korea succeeds in test of 800km-range new missile
The North has defied the ban, saying it infringes on its sovereign rights to self-defence and the pursuit of space exploration. US Secretary of State Rex Tillerson confirmed Pyongyang had launched "yet another" intermediate range ballistic missile.


"We can not, with any seriousness, call ourselves the party of limited government if we sit idly by and say nothing about this unconstitutional action".

"Unilateral military action without legal authorization or independent verification risks intensifying a multi-sided conflict that has already killed hundreds of thousands of people", he said Friday.

Trump's refusal has gotten under Democrats' skin.

The White House has expressed an interest in working with Democrats to achieve Trump's major legislative priorities, given Republicans' struggles in reaching consensus on legislation to repeal and replace ObamaCare. The proposal, effectively a tax on imports, would not only raise needed revenue but also serve to fulfill Trump's pledge to protect American companies from unfair export competition.

"That makes me smart", Trump shot back.

The disunity has forced the Trump administration to examine alternatives.

His plan would lower the corporate income tax rate to 20% and base taxes on where a product is sold, rather than where it is made.

"Thank you Rachel Maddow for proving to your #Trump hating followers how successful @realDonaldTrump is & that he paid $40mm in taxes!" "Congress should immediately cancel its planned recess and debate and vote before any further military engagement by Donald Trump in Syria", the groups stated. The House plan also significantly increases the standard deduction while eliminating many existing deductions in the individual income tax code, including the deduction for state and local taxes. Petersburg, also said the move was justified, calling the strikes "a proportional and appropriate response" against "continued atrocities committed by Bashar al-Assad against innocent men, women, and most horrifyingly, children and infants".

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