Tax cuts to boost U.S. economy bigger priority for Trump than overall reform
Getting tax cuts through Congress this fall to boost the economy is a bigger priority than overall tax reform, a top White House official said Monday.
White House legislative affairs director Marc Short said the administration is working with congressional leaders on a single tax-relief package that lawmakers would take up after Labor Day.
“We believe that the economy needs to get spurred quickly, and we want to make sure there are sufficient tax cuts,” Mr. Short told reporters.
The president is seeking a cut in the corporate tax rate from about 35 percent to 15 percent, as well as cuts in individual rates.
While congressional Republicans have been aiming at revenue-neutral tax reform in a comprehensive rewrite of the tax code, Mr. Short said “our greater priority is to provide growth.”
Asked if the White House is backing off a more comprehensive tax overhaul, Mr. Short replied, “Right now, we want it to be revenue neutral. We are still supportive of tax reform, but I am also saying to you that what we believe is most important to get the economy going is a tax cut.”