White House officials ramp up new tax cut talks, as Trump seeks sharp contrast with 2020 Democrats [View all]

[BumRushDaShow]

Source: Washington Post

White House officials and congressional Republicans have begun early talks on a new package of tax reductions and economic growth measures, under pressure from President Trump who is agitating to announce a new tax cut proposal heading into the 2020 election. The discussions are preliminary and far from the decision stage, according to officials involved. The timeline is unclear, but White House National Economic Council Director Larry Kudlow is playing a lead role, people briefed on the talks said.

The early-stage discussions reflect Trump’s desire to refocus the economic narrative amid some signs of a slowing economy, and after the major Republican tax-cut package of 2017 failed to produce enduring economic benefits or political gains for the GOP. “We are having those discussions with the White House, we’ll be engaging with them further, and we’ll have discussions with Republicans too in the House, about what we think the most pro-growth elements can be, the most pro-innovation, and I think the key is to make permanent some of the key provisions as well in tax reform,” said Rep. Kevin Brady (R-Texas), the top Republican on the tax-writing House Ways and Means Committee.

The Commerce Department said Wednesday that the economy grew at a 1.9 annualized rate, falling short of Trump’s goal of 3 percent annual growth. The Federal Reserve on Wednesday cut interest rates for the third time this year to try and boost more growth. Business investment has now contracted for six straight months, a marked slowdown, even as the tax law and new spending increases have helped dramatically balloon America’s federal deficit to close to $1 trillion annually.

Brady was a key architect of the 2017 tax cut law and said in an interview that the goal was to produce “a growth agenda with the most pro-growth tax code we can create, along with, of course, we’re always looking for more middle-class tax cuts.” While emphasizing no decisions had been made, Brady said the issue was a priority for the president.

Read more: https://www.washingtonpost.com/us-policy/2019/10/31/white-house-officials-ramp-up-new-tax-cut-talks-trump-seeks-sharp-contrast-with-democrats/

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Let's bankrupt the country on the way out and make the Democrats clean up our mess. "KING OF DEBT!!111!!!"