Paul Ryan Plugs Away at Tax Reform

Treasury Secretary Steven Mnuchin arrives at the Capitol for a closed-door meeting with Senate Majority Leader Mitch McConnell R-Ky as they struggle to get a tax code overhaul in Washington Tuesday Sept. 12 2017. The as-yet-undrafted bill to overhau

The analysis by the Tax Policy Center, a nonpartisan think tank, found Republicans might have to expand the federal budget deficit to cut the corporate rate to Trump's proposed 15 percent or to the 23 percent level sought by leading tax policymakers from Congress and the administration. But the failure of the GOP health-care legislation, which included a almost $1 trillion revenue cut, has scrambled party leaders' plans.

"As part of that effort, Ryan will be meeting with the House's top Democrat, Nancy Pelosi, on Wednesday evening, before Pelosi heads to the White House for a dinner with Trump and Senate Democratic leader Chuck Schumer".

In recent weeks, President Trump has referred publicly to "tax cuts" rather than the "tax reform" Ryan and Brady have discussed.

Democrats have said they will not rule out blocking key Republican legislative priorities to force a vote on DACA.

Rep. Raul Labrador, R-Idaho, a member of the conservative Freedom Caucus, said conservatives would demand increased interior enforcement and border security to get any deal through.

"Tax reform should not be revenue neutral", he said in a speech.

"Is the speaker supporting legislation that will give DACA recipients a chance for citizenship?" a viewer question to Ryan read, with AP Chief Congressional Correspondent Erica Werner adding, "Do you believe your conference would accept that?" "We did a face plant on that exact logic", Brat said.

Treasury Secretary Steven Mnuchin arrives at the Capitol for a closed-door meeting with Senate Majority Leader Mitch McConnell, R-Ky, as they struggle to get a tax code overhaul, in Washington, Tuesday, Sept. 12, 2017.

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"Our plan is to get this done at the end of the year for law, so that we start 2018 with a new tax system", Ryan said. "The tax writers are going to take it from there on the details". Orrin Hatch, the chairman of the Senate finance committee. "But I'm not totally confident about that".

But legislators have not said what tax breaks they plan to eliminate to offset the revenue lost from steep tax rate cuts, which some economists have said could reduce government receipts by more than $5 trillion over 10 years.

Ryan said, "There is no agreement".

Meanwhile, achieving bipartisan support in the Senate may be hard.

Speaker of the House Paul Ryan told reporters during an interview hosted by the Associated Press on Wednesday that he has "three certainties in life: Death, taxes, and attacks from Breitbart".

On the House side, at least one member's initial response to Wednesday's news was less than enthusiastic.

"More and more we're trying to work things out together", Trump said, calling the development a "positive thing" for both parties. "And so this is the beginning of the process".

After the morning House GOP meeting, Brady said that GOP leaders are working with Trump and the White House on the tax bill. "Show me what it looks like". "But the payoff in the longterm is actually that promise of balanced budgets".

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