The new tax bill is a no brainer, unless you’re a liberal. In which case, you can watch the explanation given by Sarah Huckabee Sanders during a press conference.
On Tuesday, President Donald Trump told industry leaders that he would like to sign a tax overhaul by Christmas. During the meeting at the White House, he said, ““I want the House to pass a bill by Thanksgiving. I want all the people standing by my side when we sign by Christmas, hopefully before Christmas.”
This would force Congress to deliver on the legislative victory on a much quicker agenda.
The president claims that this will “be the biggest tax event in the history of our country.”
House Republicans have plotted a speedy course for their legislation, with a committee markup planned for Nov. 6. Their goal is to complete work on the legislation by Thanksgiving.
Senate Republicans have also discussed getting the bill passed by the end of November, though Trump’s timeline hints at a slightly longer timeframe.
There are a series of challenges to the timeframe, from worries about how tax reform might increase the deficit to battles over specific tax provisions, including possible changes to the tax status of 401(k) plans and the deduction of state and local taxes.
Another issue is the special counsel probe of Russia’s election meddling that is hanging over the administration’s head. On Monday, special counsel Robert Mueller brought charges against two of Trump’s former campaign aides and unveiled a guilty plea by another.
The president, who has not shied away from tweeting about the indictments, did not respond to a reporter who asked if he plans to pardon former campaign chairman Paul Manafort, one of two people indicted on Monday.
Trump tweeted out on Tuesday, “I hope people will start to focus on our Massive Tax Cuts for Business (jobs) and the Middle Class (in addition to Democrat corruption)!”
I hope people will start to focus on our Massive Tax Cuts for Business (jobs) and the Middle Class (in addition to Democrat corruption)!
— Donald J. Trump (@realDonaldTrump) October 31, 2017
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