WT: President Trump said Wednesday he would be willing to accept a 21 percent corporate income tax rate, giving his blessing to what appears to be the crux of an emerging deal on the GOP’s tax-cut package.
The 21 percent rate, while down from the current 35 percent tax, is higher than the 15 percent Mr. Trump had originally sought and a tick up from the 20 percent compromise lawmakers had reached last month.
But the president said it still marks a major cut.
“If it got down to 21, I would certainly be thrilled,” he said while meeting with GOP negotiators at the White House.
Mr. Trump also said he wants to see a vote next week, saying voters deserve quick action on a tax cut.
He said the timing has nothing to do with the GOP’s loss of a Senate seat from Alabama, which will slim their majority from 52-48 to 51-49 when the new Democratic winner is seated. read more
I wonder who is running breathlessly around the hall of Congress tonight, grinning from ear-to-ear, that HE made Trump cry “uncle” on 1%.
Abigail. I just imagined that and cracked up.
Maybe Trump should have asked for 9% originally. “We got him down to 15!!!” lol.
Anyone know if the repeal of the individual mandate for obamacare is in this?
no worries … Trump knew what he would settle for before this was even negotiated ….
he compromises @ 21%, he’s fine w/ it … The Art of the Deal
The senate version had the repeal of the mandate. If bringing the house and senate together and reconciling to keep sticking it up our ass I’ll be a mad son of a gun!
I see McCain is demanding Trump stop with “fake news”. I suspect that will be his requirement in return for his vote on this tax package.
joe6pak
It’s moving to fast to keep up and right and not well publicized. My guess it’s gone to get Lisa Comukawski’s vote.
That’s what I’m afraid of as well. That would be every it as meaningful to me as a tax cut.
Pretty sure the repeal of the mandate is included, I saw it mentioned somewhere. I sure hope so.
At this point, with a 51-49 majority, I’ll take anything a quarter-decent. In 2019 we’ll have a better opportunity to add to it. And to make some drastic cuts too.
I hope you heard right LCD. If this passes with the repeal in place I might even consider a donation to the RNC. Wait, no I won’t, I’ll make a donation to the Trump re-election campaign.
I believe the DNC knew tax reform was needed. They just didn’t want it to look too obvious. You know, 0bama and all……….
Repeal of that demonic legislative and SCOTUS witches brew called Obamacare would be a wonderful Christmas present and boost the tax cut.
TIME TO CLOSE DOWN WASHINGTON
They tried. But after a few centuries of results, it’s clear this just doesn’t work at all.
Time to disband the whole thing.
flat tax…smaller government, period
52-48 is Democrat’s control, with the three R’s that vote with the Dem’s.
Trump should pull a reverse Obama, refuse to sign anything the Dem’s got their fingers into.
Unfortunately the congress did not break the loop hole re childcare credit, which now only requires the SSN of the child, not the parents or guardian.
Sooo, my understanding, illegal aliens can STILL get the credit, without they, themselves having a social security card. I guess the refund check is paid to the child??? Isn’t the credit SUPPOSED to be paid to help cover the actual cost of childcare? Where are these parents working, without a SSN, that they need to PAY a childcare worker? Also, I thought they had to give the SSN of the care taker.
I am beginning to see, more clearly, WHY America is going deeper and deeper into the hell hole of debt….. how many other ways have our wonderful ARISTOCRATIC congress members, finagled to ensure ILLEGAL ALIENS continue to flood our country.