PoliZette

Trump to Seek More Tax Cuts

White House briefing confirms administration officials are working with key members of Congress on new package of reforms

White House Director of Legislative Affairs Marc Short confirmed during a conference call with reporters Friday that President Donald Trump and his advisers are looking to do more on taxes in coming months.

“We have been working on a package with [House Ways and Means Committee] Chairman Kevin Brady, as well as the Senate Finance Committee, that we hope to have available by the end of the summer,” Short said during the call. “I think that one of the priorities there is to make the individual rate permanent.

“As you know, the corporate tax relief was permanent in the most recent bill, but because of procedural hurdles in the Senate, the individual rates were not. So there is a larger package we’re working on there and we’ll have more to share with you later. But in terms of a time frame, it’s probably going to be toward the end of the summer,” said Short (pictured above).

Trump’s tax reforms and cuts were a central focus in 2017 and the Tax Cuts and Jobs Act was eventually passed despite fierce opposition from Democrats and other critics. The president signed it into law on December 22 and the economy has been growing steadily in the months since the measure became law.

The tax reform lowered rates for most of the seven income brackets while reducing or estimating certain tax deductions. The reform also lowered the corporate tax rate permanently from a maximum of 35 percent to 21 percent. Trump and GOP congressional leaders have frequently talked of making the individual rate cuts permanent.

Short couldn’t get into much detail yet, since the administration and lawmakers were still putting a package together. But making the individual rates permanent will likely be a focus. Administration officials at the Department of the Treasury and the National Economic Council (NEC) are also involved in the process.

“I’m reluctant to get ahead of our team from NEC and from Treasury who will be working on that with Chairman Brady,” Short said. “I think that there will be more announced this summer on it. We’re looking at and running numbers on several different components that are probably more focused on the individual side.”

Hundreds of companies have raised employee wages or paid special bonuses, and invested in new facilities and products since December.

Democrats and other critics of the Trump reforms claim they help the wealthy far more than everybody else, while some Republicans fear the reduced tax rates will drive up the federal deficit.

Hundreds of companies have raised employee wages or paid special bonuses, and invested in new facilities and products since December.

Connor D. Wolf covers Congress and national politics and can be reached at [email protected]. Follow him on Twitter.

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Connor D. Wolf covers Congress and national politics and can be reached at [email protected].