Written by Associated Press
(AP) — The Latest on President Donald Trump’s tax overhaul (all times local):
President Donald Trump says he wants to work with Republicans and Democrats alike to “bring back Main Street” by reducing the tax burden on companies and workers.
Trump says in Springfield, Missouri, that his tax overhaul plan will be “pro-growth, pro-jobs, pro-worker and pro-American.” His speech is laying out his vision for rewriting the tax system for the first time since the mid-1980s.
He says overhauling the nation’s tax system will be at the foundation of his economic agenda. And he’s calling on Congress to work with him. Trump tells supporters, “I think Congress is going to make a comeback.”
Senate Minority Leader Chuck Schumer says President Donald Trump’s tax plan should not include tax cuts for the wealthiest 1 percent of Americans.
Schumer tells reporters that the tax overhaul plan should not increase budget deficits and should be written by both parties, not just the president’s fellow Republicans.
The New York senator was outlining Democrats’ approach to the tax overhaul ahead of the president’s tax event in Missouri later in the day.
Schumer says if Trump wants to use populism to sell the plan, “he ought to consider actually putting his money where his mouth is” and cut taxes for the middle class.
Schumer says Republicans shouldn’t use “fuzzy math or brazenly partisan estimates” to claim their tax plan wouldn’t add to deficits.
President Donald Trump will kick off his lobbying effort for a tax overhaul at an event in Missouri, with a manufacturing backdrop and some economic tough talk.
But he is not expected to offer a detailed proposal. Instead, in Springfield, Missouri, Wednesday, Trump will give remarks that the White House says will focus on his “vision” for spurring job creation and economic growth by cutting rates and revising the tax code.
After a year with no major legislative wins, the stakes are high for the White House and GOP leaders, who face mounting pressure to get points on the board before next year’s midterm elections.