Trump's argument for tax reform will emphasize the benefits he says it will deliver for the middle class and small businesses as well as the potential for broader economic growth, an administration official said.
The president noted the country's current tax code cost Americans millions of jobs, and regulations need to be cut back immediately. Several Missouri politicians also have said they will go, including U.S. Sen.
Alan Essig, executive director of the Institute on Taxation and Economic Policy, characterized Trump's and the Republican Party's tax proposals as "old hat and disproven" reiterations of trickle-down economics in a statement on Wednesday. "I see them putting these ideas out as though they're making progress, but they are the same regurgitated ideas we've been talking about for 20 years that have never gotten past the white-paper stage". Claire McCaskill (D-MO) out of office if she refused to support slashing the corporate tax rate.
The officials, who asked not to be identified during a conference call with reporters, said those ideas would make for a "bipartisan" message because the notion of a rigged economy cuts across the spectrum of USA political ideology. Unfortunately, the debate has not fully begun and the issue has already been politicized with opponents claiming that tax reform will only help big business and top earners in our country.
The speech is unlikely to provide new details about a tax plan Trump's aides and Republican leaders in Congress are trying to hammer out in closed-door meetings in Washington.
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"No military actions are anticipated in the near future", said U.S. national security advisor HR McMaster. That could choke off access to NY debt markets and raise the risk of Venezuela being forced into default.
The information provided by the White House Monday indicates a much different event than Trump's trip to Phoenix last week, a campaign-style rally before thousands.
"The president wants to take this conversation directly to the American people", the official said.
The form of these middle-class tax cuts has changed over time. Many demonstrators are expected to protest outside the building.
The new plan will resemble the Bush-era legislation, as well, by including many tax cuts that come with expiration dates.
"I think Congress is going to make a comeback, I hope so", Trump continued, to cheers from the audience.