Tags: wilbur ross | trump | tax | congress | reform

Wilbur Ross: Trump Doesn't Want to 'Irritate' Congress on Tax Reform

Wilbur Ross: Trump Doesn't Want to 'Irritate' Congress on Tax Reform
(Mark Lennihan/AP) 

By    |   Friday, 22 September 2017 09:55 AM EDT

Commerce Secretary Wilbur Ross says that the Trump administration doesn't want to "unnecessarily irritate" Congress on the path to a tax overhaul bill.

"We need the votes there and as proven with health care, it is a very fragile margin," Ross told CNBC.

Ross also said that President Donald Trump hasn’t forgotten his "campaign promises" on tax overhaul.

"What we don't want to do is things that will unnecessarily irritate the Senate," Ross explained when asked if Trump is willing to take a softer stance in order to win some bipartisan support on tax reform.

"We need the votes there and as proven with health care, it is a very fragile margin," Ross told CNBC. "So, it's a question of timing more than it is direction."

"The president is not going to be suddenly happy with trade deficits. He's not going to be happy with exporting jobs. But the real priority is going to be getting the tax bill through," Ross said.

Meanwhile, U.S. Senate Republicans earlier this week reportedly have reached a tentative budget deal that could allow tax reform legislation to eliminate as much as $1.5 trillion in revenues over 10 years through tax cuts, raising the odds that their planned tax overhaul would expand the federal deficit.

Two members of the Senate Budget Committee, Republicans Pat Toomey and Bob Corker, announced the formal agreement late on Tuesday, but their joint news release did not provide dollar figures for revenue reduction or tax cuts, Reuters reported.

The prospective tax cuts are part of closed-door talks among 12 Senate Budget Committee Republicans who are drafting a fiscal 2018 budget measure needed to help the 100-member Senate pass a tax overhaul with as few as 51 Republicans votes and prevent Democrats from blocking the legislation.

The U.S. economy is in a steady expansion and stock markets are rising. But the tax cuts being weighed by congressional Republicans, with encouragement from Trump, are on a scale normally reserved for times of economic hardship and intended to drive annual economic growth above 3 percent.

Trump campaigned last year on a promise of comprehensive tax reform. But Republicans have made little tangible progress toward that ambitious goal so far.

(Newsmax wires services contributed to this report).

© 2026 Newsmax Finance. All rights reserved.


Economy
Commerce Secretary Wilbur Ross says that the Trump administration doesn't want to "unnecessarily irritate" Congress on the path to a tax overhaul bill.
wilbur ross, trump, tax, congress, reform
373
2017-55-22
Friday, 22 September 2017 09:55 AM
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