Playbook: “Yes, President Donald Trump is releasing his outlines for tax reform today. But let’s be honest: what he is releasing today will not bear much resemblance to anything that might pass in the coming year.”
“We were up on Capitol Hill and worked our White House sources yesterday, and they all see this not as a line in the sand or as a serious proposal, but as an opportunity to get the conversation started. No, Congress won’t be able to lower corporate and passthrough tax rates to 15 percent. The professionals in the White House realize this — and also realize that they’re beginning to irk Capitol Hill committees by releasing this. Without some corresponding way of paying for such low rates, these rates would blow a massive hole in the deficit. But it reflects a White House itching for action. (That explains their push for a health care vote this week.) And insiders say unlike health care reform, Trump is more personally invested in making sure something happens on tax reform.”
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