U.S. Treasury Secretary Steven Mnuchin said on Thursday that he still believes the Trump administration can get tax reform completed this year.
Speaker Paul Ryan on Thursday doubled down on a vow to reform the tax code this year, an optimistic timeline that could face headwinds amid the ongoing Russia investigations.
Several business leaders are slated to testify at the House Ways and Means Committee’s tax-reform hearing on Thursday, the committee announced Wednesday.
House Speaker Paul Ryan will attempt to refocus the political conversation onto tax reform Wednesday when he holds a widely anticipated news conference at the Republican National Committee.
Despite statements by the Trump administration and congressional leadership about their intention to reform the U.S. tax code this year, many in the policy world believe that the road to the finish line won’t be an easy one.
On Thursday, the House Ways and Means Committee will have a hearing examining how tax reform will grow our economy and create jobs.
The following is a statement from Pete Sepp, president of National Taxpayers Union: “Tax Day is a stark reminder that our current tax code has become far too complex and bloated to be sustainable … but in reality, the task of filing taxes, not just paying them, affects Americans year-round.
Former President Ronald Reagan once famously proclaimed, “Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”
“President Trump’s first budget outline gives several clues into how his administration plans to tackle our $587 billion deficit and the considerable federal debt the nation’s taxpayers are shouldering. The spending reductions envisioned in this blueprint are a solid starting point for discussion between the White House and Congress on how to pare back wasteful or low-priority programs in the discretionary portion of the federal budget.”
Rep. Peter Roskam, Chairman of the House Ways and Means Tax Policy Subcommittee and a Republican from Illinois, discusses pursuing tax reform proposals on Capitol Hill that are mindful of the U.S. deficit and businesses, as he sees the need to “reset the whole thing.” He speaks with Bloomberg’s David Westin on “Bloomberg Daybreak: Americas.”