President Trump Set to Speak in Springfield

Posted August 31, 2017

Mr Trump said the USA has surrendered its competitive advantage with one of the highest corporate tax rates in the world. Claire McCaskill, one of the chamber's most vulnerable Democrats in next year's midterm elections.

It could be a tough sell for the president as he fights with saturation coverage of Hurricane Harvey and as Democrats prepare to frame Trump's approach as a giveaway to corporate fat cats and the nation's richest taxpayers.

Trump said in April he wants to lower the tax rate on businesses to 15 per cent, but it is not clear if this rate will remain or ultimately be revised upward.

"The president wants to take this conversation directly to the American people", the official said.

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The president's two top advisers on tax reform will be with him at the speech: Treasury Secretary Steven Mnuchin and White House economic adviser Gary Cohn, who are helping to guide the tax reform debate on Capitol Hill.

The White House has not yet released a detailed tax reform plan.

The Trump administration has pushed for months that the plan would aim to bring down taxes for all while closing loopholes, but Trump's speech will have a decidedly populist tone.

"I am fully committed to working with Congress to get this job done", he said.

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While the current Trump tax plan largely mirrors his campaign plan, one big change is its proposal for a "territorial" tax system, which would exempt the foreign profits of us multinational corporations from USA taxes. "Dem opposed to big tax cuts", he posted.

White House officials said that the president wanted to strike a serious tone and highlight a manufacturing business, rather than hold a large campaign-style rally.

Still, Trump is expected to play a much more public role in driving support for tax reform, taking to the road more frequently to hammer the benefits of tax reform than he did during Republicans' failed effort to repeal Obamacare. "That was below the average rate for developed countries at the time", Trump said. The Republican Missouri Attorney General has also pushed Congress to support Trump's tax reform agenda.

Capitol Hill Republicans have struggled to craft the tax reform legislation that accomplishes the goals they share with the president, including cutting taxes while not increasing deficits and debt.

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