Quantcast

Congressional Republicans expect to release tax reform plan by O - KOAA.com | Continuous News | Colorado Springs and Pueblo

Congressional Republicans expect to release tax reform plan by October

Posted: Updated:

House Speaker Paul Ryan says the White House and congressional Republicans will release an outline of their tax overhaul plan by the end of the month.
  
Ryan said Wednesday that after the tax draft is released the week of Sept. 25 a detailed version will be readied in hopes of action by the House later this fall.
  
Many GOP lawmakers are hungry for details about the upcoming tax plan.
  
Republicans must agree upon a companion budget plan if the tax effort is to get off the ground.
  
__
  
9:05 a.m.
  
A Democratic senator says President Donald Trump stressed to a group of senators at the White House that his tax overhaul wouldn't mean tax cuts for the rich.
  
Sen. Joe Manchin of West Virginia was among a group of Democratic and Republican senators that talked taxes with Trump at the White House Tuesday. Speaking on MSNBC's "Morning Joe" Wednesday, Manchin says Trump will focus on tax cuts for the middle class.
  
The tax overhaul principles Republicans have put forth envision slashes in the corporate tax rate and individual tax rates. The White House hasn't provided specifics.
  
Manchin says he does not expect the plan would target popular tax deductions for mortgage interest and charitable giving.
  
Sen. John Thune, the No. 3 Senate Republican, said on MSNBC that Trump is making a bipartisan appeal and "realizes that doing things is better if you have bipartisan support."
  
__
  
8:17 a.m.
  
The White House says President Donald Trump's dinner with Republican and Democratic senators to talk taxes was "highly productive" and will "spur constructive discussion."
  
Trump met Tuesday with Democratic Sens. Joe Manchin of West Virginia, Heidi Heitkamp of North Dakota and Joe Donnelly of Indiana, as well as Republican Sens. John Thune of North Dakota, Pat Toomey of Pennsylvania and Orrin Hatch, of Utah.
  
In a statement Wednesday, the White House says Trump asked them to "help deliver tax cuts for American families."
  
Manchin, Heitkamp and Donnelly are the only Democratic senators who did not sign a letter addressed to Republican leaders and Trump. The letter said the Democratic caucus would not support a tax overhaul that cuts taxes for the "top 1 percent" or adds to the government's $20 trillion debt.
  
__
  
7:47 a.m.
  
President Donald Trump is pushing lawmakers to "move fast" on a tax overhaul.
  
On Twitter Wednesday, Trump says: "The approval process for the biggest Tax Cut & Tax Reform package in the history of our country will soon begin. Move fast Congress!"
  
Trump had dinner Tuesday with a group of Republican and Democratic senators to talk taxes. The push to overhaul the tax code is a top priority for Trump and Republicans after their effort on health care failed.
  
Trump has been pushing for changes to the tax code to cut corporate and individual rates and simplify the system, but has offered few specifics.
  
White House legislative director Marc Short said Tuesday that principles for the tax overhaul will be released "in a matter of days, not weeks."

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

WEATHER
Drive the Doppler
  • Most Popular StoriesMost Popular StoriesMore>>

  • Developer built homes in danger of flooding; Town leaders "unsure" what happened

    Developer built homes in danger of flooding; Town leaders "unsure" what happened

    Friday, January 19 2018 1:13 AM EST2018-01-19 06:13:19 GMT

    News 5 Investigates has learned several newly built townhouses in Monument are in danger of flooding after the developer dissolved his business before the work was complete.  A retaining wall was supposed to be built to control water flow and erosion, but no one from the Town of Monument enforced the site development plan it approved.  

    News 5 Investigates has learned several newly built townhouses in Monument are in danger of flooding after the developer dissolved his business before the work was complete.  A retaining wall was supposed to be built to control water flow and erosion, but no one from the Town of Monument enforced the site development plan it approved.  

  • $40 parking fee blamed for drop in revenue for Barr Trail maintenance

    $40 parking fee blamed for drop in revenue for Barr Trail maintenance

    Thursday, January 18 2018 9:08 PM EST2018-01-19 02:08:06 GMT

    The popularity of the Manitou Incline and the Barr Trail has only increased, but revenue generated from a parking lot near the base of the trail has decreased. 

    The popularity of the Manitou Incline and the Barr Trail has only increased, but revenue generated from a parking lot near the base of the trail has decreased. 

  • How much are you paying at the DMV in El Paso County and why?

    How much are you paying at the DMV in El Paso County and why?

    Thursday, January 18 2018 7:05 PM EST2018-01-19 00:05:32 GMT
    DMV on Union near Van BurenDMV on Union near Van Buren

    If you're not a Colorado native, or even if you are, you need to know how much it costs to register your car and where that money goes. 

    If you're not a Colorado native, or even if you are, you need to know how much it costs to register your car and where that money goes. 

Powered by Frankly

© KOAA.com 2018, KOAA.com
A CORDILLERA COMMUNICATIONS Station
All rights reserved
Privacy Policy, | Terms of Service, and Ad Choices

Can't find something?