Trump to unveil tax reform plan in Missouri
Including nearly no specifics, Trump said his plan aims to simplify a convoluted tax code, lower rates on both corporations and workers, close special-interest loopholes and encourage the repatriation of trillions of dollars back into the US economy.
Following a whirlwind tax tour by chief Republican lawmakers, President Donald Trump will take the baton as he visits Springfield, Missouri on Wednesday to begin his leg of the race to complete one of his key campaign promises before year's end. "I will not support any tax plan that only aids the top earners and corporations at the expense of the middle class". He will speak about tax reform at the Loren Cook Company, which makes ventilation equipment.
That outline was also light on details - like who would be eligible for which tax brackets and whether or not the White House plan would increase the budget deficit.
Trump said in April he wants to lower the tax rate on businesses to 15 per cent, but it is not clear if this rate will remain or ultimately be revised upward.
"I don't want to be disappointed by Congress, you understand me?"
White House officials said that the president wanted to strike a serious tone and highlight a manufacturing business, rather than hold a large campaign-style rally.
Trump also welcomed praised and thanked his daughter Ivanka Trump, who was in the audience. "I hope so. Tell you what - the U.S. is counting on it".
Even as he laid out his tax reform pitch in broad strokes, Trump sought to turn up the pressure on members of Congress to get behind his still-undetailed effort and he called out Missouri's Democratic Sen.
Trump envisions a corporate tax rate dropping from 35 percent, now the highest in the industrialized world, to around 15 percent. "Democrats believe that not one penny of tax cuts should go to the 1%". And according to Ben White and Tara Palmeri at Politico, Trump's message will paint the tax reform policy as a populist change created to achieve the goal of "unrigging the economy". Claire McCaskill - up for re-election next year - is "opposed to big tax cuts" and said a "Republican will win" the state.
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.
Related:
-
German Business Group Criticizes UK Stance in Brexit Talks
European Union leaders will decide in October whether " sufficient progress " has been made for trade negotiations to start. British negotiator Davis said the week ahead is "about driving forward the technical discussions across all the issues".No More Heroes: Travis Strikes Again: Everything We Know
In order to escape the console, players will have to play and beat the six games within the console and beat each game's boss. Suda51 teased Travis' return - as wel las the game's subtitle - during the Switch reveal event earlier this year.Season 7 Finale is the beginning of the end
Did you expect it? We shall see what happens what the two of them discover the truth about their relationship in a future episode. And now Daenerys and Jon seem to be so damn keen on each other but we know it could potentially have disastrous consequences. -
Christie: Time Has Proven Texas Lawmakers to Be 'Hypocrites'
Now that Hurricane Harvey is currently ravaging their own state, however, many of these same Republicans are changing their tune. John Cornyn and Ted Cruz voted against the $51 billion Sandy aid package. "NY wont abandon Texas ", King tweeted Saturday.Lawyers urge Texas homeowners to file Harvey claims before law change
House Bill 1774 , which goes into effect September 1, advocates for insurance companies to limit lawsuit abuses, Chron reports. The rate under the new law will be determined by a market rate formula that now is 10 percent.Gervonta Davis beats Costa Rica's Francisco Fonseca
The fight between Davis and Fonseca will still take place, but for the American it will no longer be a title fight. Davis grew cocky again in the rounds that followed, putting his hands behind his back and inviting Fonseca on. -
New Uber CEO confirms intent to WSJ
The 48-year-old married his wife, Sydney Shapiro on 12 December, 2012 and together, they have four kids. The New York Taxi Workers alliance had called for the suspension of cab services at NYC's John F.Houston officer Steve Perez drowns in flood while heading to work
Steve Perez , who drowned in his auto on Sunday after being trapped by Harvey floodwaters as he was attempting to drive to work. Perez then followed protocol and attempted to drive to the secondary station in Houston's Kingwood neighborhood, Acevedo said.Amazon's Echoes Can Finally Sync Together to Play Music Like a Sonos
While the standard Echo is sold out, you can get a refurbished Echo for $129.99 , which is $50 off the price of a new Echo. Along with the deal, Amazon's also offering up tips on how students can use Alexa's voice controls for music. -
Rain stopped, but Mumbai is yet to get back on track!
Be it local trains, roads or the airport all felt the impact of the torrential rains that hit maximum city since Monday night. More than 1,200 people have died across India, Bangladesh and Nepal in the worst flooding to strike South Asia in years.Angie Kerber loses opener to Naomi Osaka
A double-fault set up the teenager's only break point and a backhand error in the ensuing point from Kerber gave Osaka the break. The young woman from Japan made a real mark here past year with a third-round run that took out No30 seed Coco Vandeweghe.Merkel stands by approach to refugee crisis
Independent journalism is a basic pillar of democracy that can "never be questioned, even when it is uncomfortable", she had said. In Libya , people traffickers have operated with relative ease, but many migrants and refugees also set off from Egypt.