Trump says tax hike for rich possible
Democrats have criticised Republican tax overhaul efforts as benefiting mainly the wealthiest
President Donald Trump said on Wednesday the rich might see a hike in taxes as he pursues a major tax overhaul with outreach to Democrats who oppose cutting rates for the wealthy, while Republicans in Congress set a timetable to unveil their plan.
The White House and the Republican-led Congress have not put forth a detailed tax plan despite months of talks that have excluded Democrats. House of Representatives Speaker Paul Ryan said an outline would be unveiled during the work week beginning September 25, with congressional taxwriting committees crafting detailed legislation in the subsequent weeks.
Democrats have criticised the Republican tax overhaul efforts as benefiting mainly the wealthiest Americans. Trump, a real estate mogul, said the rich would not be making gains with the plan, which he said was geared toward providing the largest tax cut ever for the middle class and creating jobs.
“I think the wealthy will be pretty much where they are,” Trump said of taxes on the rich, without specifying the income level. “If they have to go higher, they’ll go higher, frankly.” Trump hosted Senate Democratic leader Chuck Schumer and House Democratic leader Nancy Pelosi on Wednesday evening to discuss the legislative agenda with a focus on the tax overhaul after meetings with bipartisan groups of lawmakers on Tuesday night and Wednesday afternoon.
“We should be able to come together to make government work for the people,” Trump told reporters as he met with eight Democratic and five Republican House members to try to find common ground on taxes as well as immigration and health care.
Message to conservatives
Asked what his message was to sceptical conservatives who worry he is cosying up to Democrats, Trump said: “I’m a conservative, and I will tell you I’m not sceptical. And I think that if we can do things in a bipartisan manner, that’ll be great. Now it might not work out.” Trump blindsided Republican leaders last week by striking a deal with Schumer and Pelosi on the US debt limit and federal spending for three months, and also spoke to them about how to resolve the fate of 800,000 young adults brought into the United States illegally as children, the so-called Dreamers.
Ryan said the outline being worked on now would reflect the consensus of the House Ways and Means Committee, the Senate Finance Committee and the Trump administration.