You Could Get the Finalized Tax Plan During Trump's Indy Visit
INDIANAPOLIS--The Trump tax plan could be announced in Indiana, Wednesday. Pres. Trump plans to visit Indianapolis to talk about tax reform and Treasury Sec. Steve Mnuchin told CNN's "State of the Union" that the plan would be out this week.
Coming to Indy
More specifically, Mark Short, White House director of Legislative Affairs, told Chris Wallace on "Fox News Sunday", that the plan would be discussed Wednesday.
"There's still conversations. The president will have to sign off on that. He'll make his announcement on Wednesday what the final number is," said Short, talking about the 35 percent personal tax rate that's being discussed as a possibility for the wealthiest of Americans, who currently pay above 39 percent.
Some people see that as a significant tax break for the wealthy, one that could add $1.5 trillion to the national debt.
"He's eliminating all those deductions that most often the wealthy take advantage of," said Short. "Our tax code picks winners and losers. By getting rid of those deductions than people with higher income will have to pay more taxes." Short said that will offset the deductions that will be eliminated with the Trump plan.
Trump's own words
"I think it'll be terrific. It'll be the largest tax cut in the history of our country," said Trump, speaking to reporters Sunday.
The plan could also include a cut for corporate taxes from 35 to 15 percent, which is where Trump has said he wants it. Some Republicans have been discussing a number closer to 20 percent.
"I'm asking members of both parties to come together, to put aside partisan difference and to pass historic tax reforms and tax cuts," said Trump during his weekly radio address. "That's how we will all succeed and thrive together as one team, one people and one American family."
"What we're interested in doing is seeing the economy grow," said Short. "The economy has been struggling for way too long. The growth in this country for 10 years has been dismal. We need to turn it around. This president is gonna do that by pulling back the regulatory state. And we lower taxes, you will see our economy grow by significant rates."
PHOTO: CNN Newsource