Tags: Donald Trump | Trump Administration | Congress | Tax Reform | Trump

Trump Predicts 'Perfecto' Tax Reform Deal Soon

Image: Trump Predicts 'Perfecto' Tax Reform Deal Soon
President Donald Trump speaks to reporters prior to a lunch meeting with Senate Republicans at the White House on Tuesday. (Reuters)

Tuesday, 05 Dec 2017 01:46 PM

President Donald Trump is predicting that Congress will come together quickly to reconcile differences in a sweeping tax overhaul passed by the House and the Senate.

Trump says in a meeting with a half dozen Republican senators at the White House that he calls the joint House-Senate conference committee "the mixer."

Trump says, "everyone gets together and they pick all the good things and get rid of the things they don't like."

In reality, the conference will involve tough negotiations over differences in the two versions of the tax bill that can be approved by both chambers.

Trump says the end result will be "perfecto" and something will come out of conference "pretty quickly."

Trump and the lawmakers were also discussing trade, including ongoing talks over NAFTA.

Earlier Tuesday, a key House Republican leader acknowledged that some tax cuts in the sweeping tax legislation must expire to comply with Senate budget rules.

The tax bill passed by Senate Republicans would let tax cuts for individuals expire in 2026, while the package passed by the House would make them permanent. Lawmakers are now working to reconcile the two bills.

Texas Rep. Kevin Brady says, "We can't achieve permanency in everything."

Republican senators say they made the tax cuts temporary to comply with Senate budget rules that prevented Democrats from blocking the bill. Under the rules, the Senate cannot pass legislation that adds to long-term budget deficits.

Brady chairs the tax-writing House Ways and Means Committee and says House Republicans are still deciding which taxes they would sunset.

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President Donald Trump is predicting that Congress will come together quickly to reconcile differences in a sweeping tax overhaul passed by the House and the Senate. Trump says in a meeting with a half dozen Republican senators at the White House that he calls the joint...
Congress, Tax Reform, Trump
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2017-46-05
Tuesday, 05 Dec 2017 01:46 PM
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