Tags: Donald Trump | Trump Administration | Trump Tax Reform | 15 percent | corporate tax | repatriation

Politico: Trump Sticking With 15% Tax Goal

Politico: Trump Sticking With 15% Tax Goal
President Donald Trump (AP)

By    |   Tuesday, 05 September 2017 09:58 PM

President Donald Trump is standing firm on his preference to cut the top corporate tax rate to 15 percent, despite lack of support in the White House or Congress, Politico reported.

"You can't get to 15 percent, and anyone who has a back of an envelope can make that calculation," one unnamed official working on tax reform told the outlet. "And he may not like that truth, but it's the truth. It's just math."

According to Politico, congressional leaders, tax writers, and key administration officials met Tuesday in the Oval Office to talk about their progress — and where Trump again reiterated his goal of a 15 percent corporate tax rate.

Trump is expected to travel Wednesday to North Dakota to pitch his tax reform plan. Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn will also join the president on the trip.

"The key hurdle is very simple: It's how to craft a package that can get 50 votes in the Senate and avoid the problems they had with Obamacare," Stephen Moore, an informal economic adviser to Trump and distinguished visiting fellow at the Heritage Foundation, told Politico.

"I still maintain they will end up with something really scaled back that can give the president a bill-signing ceremony," he said, adding: "The politics of the issue keep changing as to what is attainable here, but it's time to get realistic about what we can pass."

Though Trump's sticking with his 15 percent corporate tax rate, others believe it will end up somewhere between 20 and 25 percent.

"Where the rubber meets the road is how much you are willing to cut into all this stuff to get the number closer to 20," an administration official said.

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Politics
President Donald Trump is standing firm on his preference to cut the top corporate tax rate to 15 percent, despite lack of support in the White House or Congress, Politico reported.
15 percent, corporate tax, repatriation
289
2017-58-05
Tuesday, 05 September 2017 09:58 PM
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