Taxes

Trump Tax Plan Sets Up Another Battle With Congress
President would lower corporate rate, slash individual brackets from 7 to 3

President Donald Trump delivers remarks in the State Dining Room at the White House on Monday. On Wednesday, he laid out his tax overhaul plan. (Chip Somodevilla/Getty Images)

By JOHN T. BENNETT and LINDSEY McPHERSON, CQ Roll Call

The Trump administration on Wednesday rolled out a massive package of tax rate reductions and code changes. Senior officials claimed it will “pay for itself,” even though details remain murky and a fight with Congress lies ahead.

Tax Overhaul Not Immune to GOP Infighting
Border adjustment tax among issues that could cause intraparty stress

House Republicans may experience significant intraparty disagreements over their upcoming tax overhaul effort. (Tom Williams/CQ Roll Call)

Republicans have said a tax code rewrite will be easier than the health care overhaul that continues to elude them. Whether or not that proves true, a few intraparty battles likely lay ahead on taxes.

The GOP is united around the goal of a tax code overhaul. Republican lawmakers used Tax Day on Tuesday to highlight their shared vision for cutting tax rates, simplifying the code and spurring economic growth.

Wittman Answers Questions at Public Forum, Constituents Hold Mock Town Hall
Republican congressman says he favors smaller-scale meetings over massive town halls

Rep. Rob Wittman, R-Va., leaves a meeting of the Stafford County Board of Supervisors in Stafford, Va., on April 18, 2017. (Tom Williams/CQ Roll Call)

STAFFORD, Va. — Rep. Rob Wittman provided an update on congressional affairs to the local governing body here Tuesday evening. It was his fifth constituent meeting of the day.

Meanwhile, just over 30 miles northwest in Nokesville, Virginia, citizens held a mock town hall to discuss the congressman’s voting record.

Schumer Joins Calls for President to Release Tax Returns
Minority Leader: Failure to disclose makes passing tax reform ‘much harder’

Senate Minority Leader Chuck Schumer says President Trump could wreck a major campaign pledge, a package of tax code changes and rate cuts, if he keeps his own returns secret. (Bill Clark/CQ Roll Call)

The top Senate Democrat on Tuesday joined calls for President Donald Trump to release his tax returns, warning that a failure to do so could sink what was a major campaign promise.

Should the president opt to continue keeping his full personal financial picture secret, it would make any package of tax code changes and rate cuts “much harder to pass,” said Minority Leader Charles E. Schumer, D-N.Y.

Ep. 47: Why You Shouldn't Count On the Trump Tax Cuts
The Week Ahead

  President Trump has promised big tax cuts but as CQ Roll Call's tax editor Catalina Camia explains a tangled web of interests and Republican disunity in Congress could spoil efforts for the first major tax legislation in 30 years.

Show Notes:

Wounded White House is Uncharacteristically Quiet
Turf war could be brewing on tax overhaul

President Donald Trump, center, pushed hard but came up short on health care. He's now moved on, say senior aides, but the same pitfalls remain for future endeavors. (Bill Clark/CQ Roll Call)

The White House on Monday continued licking the wounds of its first legislative defeat, even as President Donald Trump and his lieutenants gear up for a Supreme Court battle, a government funding fight and a tax overhaul push that will likely be bruising.

Apart from now-familiar contentious moments during the daily press briefing, Monday was eerily quiet at the executive mansion — a departure from the previous two frenetic weeks.

Schumer and Pelosi Prebuttal to Trump: We Disagree
Democratic leaders see no signs they can work with Republicans

House Minority Leader Nancy Pelosi and Senate Minority Leader Charles E. Schumer speak at the National Press Club in Washington on Monday. NPC President Jeff Ballou appears at left. (Tom Williams/CQ Roll Call)

Congress’ top two Democrats on Monday delivered their “prebuttal” to President Donald Trump’s upcoming first address to Congress, outlining reason after reason why Democrats cannot support anything they expect the president to propose. 

Speaking at the National Press Club, Senate Minority Leader Charles E. Schumer and House Minority Leader Nancy Pelosi said Republicans’ early actions and rhetoric on health care, immigration, budget and taxes are out of step with the Democrats’ priorities and suggested there’s no room for the parties to work together.

Is Trump Taking Policy Cues From Paul Ryan?
Nod to tax proposal just latest in series of shifts

President Donald Trump, left, shakes hands with Ryan, right, as he arrives on stage while Vice President Mike Pence looks on, at the GOP retreat in Philadelphia. (Bill Clark/CQ Roll Call/Pool)

PHILADELPHIA — In a few short months, Donald Trump has shifted from a candidate who considered Speaker Paul D. Ryan a “very weak and ineffective leader” to a president who seems to be leaning on him to beef up his policy agenda.

A sign of that evolution came Thursday when Trump, speaking before congressional Republicans at their issues retreat here, embraced Ryan’s “border adjustment” proposal to tax U.S. imports instead of exports as a way to pay for his border wall.

Ryan Lays Out Ambitious 200-Day Congressional Agenda
Health care and tax overhauls slated to be done by August per GOP plan

Rep. Chris Collins, R-N.Y., does a television interview at the GOP retreat in Philadelphia on Wednesday, Jan. 25, 2017. House and Senate Republicans are holding their retreat through Friday in Philadelphia, with a visit from President Donald Trump expected Thursday. (Bill Clark/CQ Roll Call)

PHILADELPHIA — House Speaker Paul D. Ryan is laying out an aggressive 200-day agenda that will have Congress rolling back regulations, repealing and replacing the 2010 health care law, funding a border wall, rewriting the tax code, expanding the veterans’ choice program, advancing an infrastructure package and avoiding a debt default — all before the August recess. 

“It’s the president and his administration working hand and glove with the speaker and the majority leader,” New York Rep. Chris Collins told reporters after Ryan’s presentation at the start of the GOP retreat here on Wednesday. “It’s going to be hard. We’re going to be doing controversial things. The speaker’s message was, ‘None of this is going to be easy, and we’re going to be attacked by somebody regardless of what we do, so let’s buckle our seat belts and understand we have an obligation here.’”

Obamacare Tax on Wealthy Sparks Battle Over Fairness
Charges GOP favors a tax cut for the wealthy

Top Senate tax-writer Orrin Hatch, R-Utah, said lawmakers have not agreed on an effective date for repeal of the health law surtax. (Al Drago/CQ Roll Call file photo)

 Republicans and Democrats are squaring off in a fight over tax fairness as the GOP develops a timetable for repealing the 3.8 percent surtax on investment income under the health care overhaul.

GOP lawmakers have long argued for elimination of the surtax, or the net investment income tax, that applies to income such as interest, dividends and capital gains for individuals making more than $125,000 or couples earning more than $250,000.