Tags: Donald Trump | Trump Administration | Trump Tax Reform | house | freedom caucus | republicans | tax rates

Report: GOP Open to Keeping Top Tax Rates

Image: Report: GOP Open to Keeping Top Tax Rates
(AP)

By    |   Tuesday, 03 October 2017 10:33 PM

President Donald Trump and House Republicans are open to keeping the top tax rates if that is what it takes to pass the rest of their tax overhaul legislation, Politico reported Tuesday.

Several members of the conservative House Freedom Caucus told Politico they were open to keeping the top rate at 39.6 percent rather than reducing it to 35 percent as Trump has proposed.

Trump now apparently fears the plan will be seen by the public as a means of helping the wealthy. And conservative congressmen say they are willing to let it go if it means removing that argument from Democratic opponents.

"If that helps us get it done, I'm for it," Rep. Morgan Griffith, R-Va., told Politico. "I don't like keeping the rate up there either, but at the same time, I think it's a good idea to leave it so people realize that it's not that we're trying to give some kind of break for the wealthiest."

Democrats argue the bill still would help the rich, since the bill maintains plans to end the estate tax and alternative minimum tax, which typically benefits wealthier taxpayers.

Republicans also are more willing to keep the 39.6 percent rate since their plan cuts taxes on most small businesses to 25 percent, down from that top 39.6 percent rate.

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President Donald Trump and House Republicans are open to keeping the top tax rates if that is what it takes to pass the rest of their tax overhaul legislation, Politico reported Tuesday.
house, freedom caucus, republicans, tax rates
219
2017-33-03
Tuesday, 03 October 2017 10:33 PM
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