Trump Delivered a Classic Response to Reports About Kamala's Debt-Ridden Campaign
As the Biden and Harris Camps Wage War, Here's a Provocative Tidbit About...
The Pivotal Moments That Led to the MAGA Landslide
Why Some Kamala Supporters Think She'll Win
We Failed Black Women…And Other Things I Just Don’t Care About
The Mandate For What?
A Quick Bible Study Vol. 241: What the New Testament Says About How...
The Boatload of Challenges Confronting President Trump’s Second Term
This Is What Americans Want Trump to Fix First
Trump Scheduled to Meet Biden to Discuss a Smooth Transition of Power
Abhorrent: Woman Reveals She Aborted Her 20-Week-Old Unborn Baby
Harris Surrogate Reveals the Moment It All Went Down Hill for Kamala
Why Tucker Carlson Is Warning of a 'Coup' Staged By Mitch McConnell
Oh, So Now Tim Walz Wants Us to Treat Each Other As 'Neighbors'
Mike Johnson Is a Lifetime Freedom Fighter
Tipsheet

Trump Looks to Cut Corporate Tax Rate to 15 Percent

President Trump has his eye on a corporate tax rate of 15 percent, even if that means adding to the national deficit, the Wall Street Journal reported Monday.

Trump reportedly told his aides to draft a proposal that could be presented to the American people this week.

Advertisement

But such a plan would be an extremely tough sell to Republican lawmakers who’ve spent the last decade making debts and deficits a central issue, Politico’s Playbook notes. Plus, it could put future, permanent, tax cuts at risk.

Mr. Trump’s willingness to let deficits run higher also could hinder the passage of tax cuts that are permanent. Congressional Republicans plan on using a procedural tool known as reconciliation that would allow the tax legislation to pass with a 51-vote majority in the Senate, instead of the usual 60 votes. Under those rules, changes can’t add to deficits beyond a decade.

“It’s the same discussion they had about the Bush tax cuts in the previous administration: Are you better off having a smaller cut that is permanent, or a larger cut that is temporary?” said Mick Mulvaney, the president’s budget director, in an interview last week.

On top of the deficit issue, there are several other roadblocks that get in the way of Trump’s proposed corporate tax cut, such as passthroughs, reconciliation, tradeoffs, and corporate splits. 

Trump is expected to lay out the principles for his tax reform on Wednesday. 

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement