Politics Exclusive: Trump wants 20 percent corporate tax rate, shutdown not expected - White House

00:55  08 december  2017
00:55  08 december  2017 Source:   Reuters

Trump suggests he may be flexible on corporate tax rates

  Trump suggests he may be flexible on corporate tax rates President Donald Trump has suggested that he may be willing to negotiate changes to a significant portion of the tax overhaul, the corporate tax rate, injecting an element of uncertainty into the tax plan only hours after it cleared the Senate.Trump told reporters at the White House before a trip to New York City Saturday that he would consider setting the corporate tax rate at 22 percent, compared to a 20 percent rate that he has pushed for with House and Senate Republicans during the fall.

WASHINGTON (Reuters) - President Donald Trump wants the U.S. corporate tax rate to be 20 percent and the White House is confident that it can craft a deal to avoid a government shutdown , White House legislative affairs director Marc Short said on Thursday.

WASHINGTON (Reuters) - President Donald Trump wants the U.S. corporate tax rate to be 20 percent and the White House is confident that it can craft a deal to avoid a government shutdown , White House legislative affairs director Marc Short said on Thursday.

a man wearing a suit and tie: U.S. President Donald visits St. Louis, Missouri to speak about tax reform © REUTERS/Kevin Lamarque U.S. President Donald visits St. Louis, Missouri to speak about tax reform

President Donald Trump wants the U.S. corporate tax rate to be 20 percent and the White House is confident that it can craft a deal to avoid a government shutdown, White House legislative affairs director Marc Short said on Thursday.

In an interview with Reuters, Short said he hoped Trump's meeting with Republican and Democratic congressional leaders, scheduled for Thursday, would produce a two-year budget deal that would outline spending for fiscal years 2018 and 2019.

A compromise would include increases in defense and non-defense spending, he said.

Top GOP senator: House and Senate 'not that far apart' on tax bill

  Top GOP senator: House and Senate 'not that far apart' on tax bill Sen. John Barrasso (R-Wyo.) on Sunday said he's optimistic the House and Senate will be able to hash out differences in the chambers' respective tax reform bills and get legislation to the president by the end of the year. "We're not that far apart. Fundamentally, for the American public, we double the standard deduction, double the child tax credit, and lower the rates," Barrasso said on "Fox News Sunday."The Senate passed legislation early Saturday morning to overhaul the tax code, approving the plan by a 51-49 vote.

WASHINGTON (Reuters) - President Donald Trump wants the U.S. corporate tax rate to be 20 percent and the White House is confident that it can craft a deal to avoid a government shutdown , White House legislative affairs director Marc Short said on Thursday.

Trump told reporters at the White House before a trip to New York City that he would consider setting the corporate tax rate at 22 percent, compared to a 20 percent rate that he has pushed for with House and Senate Republicans during the fall.

Short said the White House stood firmly behind the goal of a 20 percent corporate tax rate as part of the planned tax cut package currently in Congress. Trump's recent suggestion that his tax overhaul effort could lead to a 22 percent corporate tax rate was a reflection of conversations he had with lawmakers, Short said.

"I think he was just reflecting what conversations he had heard from them, but that ... wasn't intended to signal: this is an endorsement of raising the corporate rate," he said.

"When you're seeing countries like Great Britain go below 20, you're seeing Ireland at 12 percent, potentially going to single digits, 20 percent is about as high as we feel comfortable going."

Short said the president was anxious to find a legislative solution for immigrants who were brought to the United States illegally as children and previously received protection under the Deferred Action for Child Arrivals (DACA) program, but he does not want to hold military and government funding hostage over that issue.

(Reporting by Jeff Mason; Editing by Kevin Drawbaugh and Alistair Bell)

GOP leaders consider shrinking size of planned corporate tax cut, sources say .
Republican leaders are convinced they need to find new revenue in order to fund last-minute changes to the giant tax package moving through Congress. The House and Senate passed separate tax cut packages in recent weeks, and both bills would lower the corporate tax rate from 35 percent to 20 percent. But GOP negotiators are now openly discussing the possibility of moving that rate up to 22 percent in order to free up more revenue, people familiar with the discussions said. One of those people said the 22 percent rate is "seriously under discussion.

Source: http://us.pressfrom.com/news/politics/-104924-exclusive-trump-wants-20-percent-corporate-tax-rate-shutdown-not-expected-white-house/

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