Tags: Trump | Tax Plan | Spending | Democrats

Trump's Tax Plan May Include Democrat-Friendly Spending

Image: Trump's Tax Plan May Include Democrat-Friendly Spending
(AP)

By    |   Tuesday, 25 Apr 2017 01:30 PM

President Donald Trump is set to release its tax reform proposal Wednesday, and it may include some spending that the administration hopes it can use to bring Democrats in to negotiate, sources told Politico. 

Infrastructure spending and a childcare tax credit developed by Ivanka Trump are expected. The main architects of the plan are a bipartisan duo, Sen. Rob Portman, R-Ohio, and Sen. Chuck Schumer, D-N.Y.

The broad proposal is aimed to show voters that the administration is on top of its policy agenda and working toward solutions Democrats can get behind, Politico notes.

A border adjustment tax that House Speaker Paul Ryan proposed is not expected; tax writers had made it a prime component in order to pay for other tax cuts. That tax would have raised $1 trillion in revenue, according to Salon. 

One lobbyist said the plan is more of a publicity stunt.

"We will be disappointed on Wednesday when we see that this is the big announcement. They should not be building this up for a big nothing burger," the lobbyist told Politico.

Until five days ago, no tax plan existed. When Trump told The Associated Press that he would release a plan Wednesday, senior aides rushed to come up with the proposal.

"This is really doing it backwards," according to one administration official.

Trump's corporate tax cut of 15 percent is also likely to be in the proposal, Politico reported.

"I'm not sure that he's going to be able to get away with that because you won't very well be able to balance the budget," Sen. Orrin Hatch, R-Ohio, told Politico.

The administration's first tax reform plan was to work with Ryan, but that appears to be off the table, which could lead to struggles with both parties.

"The fact is, nobody was ready to do this, but now we have to put something out," another administration official said to Politico.

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President Donald Trump is set to release its tax reform proposal Wednesday, and it may include some spending that the administration hopes it can use to bring Democrats in to negotiate, sources told Politico.
Trump, Tax Plan, Spending, Democrats
316
2017-30-25
Tuesday, 25 Apr 2017 01:30 PM
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