While a lot of attention in the nation’s capital has been focused on repealing and replacing the Affordable Care Act, Republicans have a full docket of items to tackle within the coming months including raising the debt ceiling, passing a spending bill and overhauling the U.S. tax code.
With President Donald Trump’s effort to undo Obamacare derailed by opposition from Republican senators, the White House has turned its attention to its next big shot at a big win: tax reform.
In a major speech last month, House Speaker Paul Ryan didn’t mince words when it came to the urgent need to revamp our federal tax code, outlining what he deemed “transformational tax reform.” Congress and the White House should heed this call to action, as not doing so would be a major blow to families, businesses of all sizes, and our economy.
Republicans in the U.S. House of Representatives took a first step toward tax reform on Tuesday, with the release of a fiscal 2018 budget plan that would allow a tax reform package to pass the U.S. Congress without support from Democrats.
Senate Finance Committee Chairman Orrin Hatch (R-Utah) received hundreds of thousands of comments on tax reform from taxpayers and groups after his call for feedback from stakeholders, a committee spokesperson said Monday.
Ways and Means Committee Chair Kevin Brady (R-TX) says plans to deliver historic tax reform this year are on track. In an interview with FOX Business correspondent Adam Shapiro, Brady confirmed plans to deliver a bill to the President Trump’s desk before the end of 2017.
Tax reform was one of President Trump’s key campaign promises, and he’s made it clear that it continues to be a high priority for him.
Sen. Orrin Hatch (R-Utah) will hit the ground running this week as he lays the groundwork for broad tax reform FOX Business has learned, and he is expected to use the sky-high corporate tax rate to make his case.
Treasury Secretary Steven Mnuchin said Sunday the Trump administration still aims to pass tax reform legislation this year and its focus is on cutting taxes for middle-class Americans and businesses rather than the wealthy.
Tax reform is a “pass/fail exercise,” Treasury Secretary Steve Mnuchin said Thursday in response to a question about the Trump administration’s specific goals for tax reform.