President Trump goaded Congress on Wednesday to “move fast” on what he called the “biggest Tax Cut & Tax Reform package in the history of our country,” a swipe at Republicans divided over the scope and mechanics of a deal still in the works.
The approval process for the biggest Tax Cut & Tax Reform package in the history of our country will soon begin. Move fast Congress!
— Donald J. Trump (@realDonaldTrump) September 13, 2017
Tax cuts are the GOP’s top fall priority. Trump advisers and congressional leaders are working to assemble a framework that they hope to release next week, The Washington Post reported Wednesday. The biggest disagreement is over how to pay for the vision Trump outlined in April, including what tax breaks should be eliminated.
White House officials are still hopeful that they can lower the corporate tax rate from 35 percent to 15 percent. Many congressional Republicans, however, think that goal is ambitious.
In private talks, Trump advisers are pressing to eliminate or reduce several popular tax deductions, including the interest companies pay on debt, state and local income taxes paid by families and individuals, and the hugely popular mortgage interest deduction, The Post reported.