The Tax Cuts and Jobs Act proposed by both the House and the Senate will pay for itself by generating higher economic growth, according to an analysis from the Tax Foundation.
WASHINGTON (Reuters) — The White House said on Thursday it would continue to work with Republican Senator Marco Rubio as he seeks a further expansion of a child tax credit in a tax overhaul bill, but that it was proud lawmakers were already considering doubling it.
Vice President Mike Pence has delayed his upcoming trip to Israel by a few days amid a deadlock in the Trump administration’s Israeli-Palestinian peace initiative, though Pence’s office said the delay is so he can stay in Washington to help pass tax reform legislation.
Pete Sepp, president of the National Taxpayers Union, is arguing for a 20 percent corporate tax rate, saying that going any higher, even by one or two percent, will make the United States less competitive.
WASHINGTON (Reuters) — President Donald Trump wants the U.S. corporate tax rate to be 20 percent and the White House is confident that it can craft a deal to avoid a government shutdown, White House legislative affairs director Marc Short said on Thursday.