Breeze-Courier | Taylorville, IL
weather sponsored by
Hickory Estates of Taylorville




Advanced Search
search sponsored by


LOGIN | SUBSCRIBE




KMRM

home : news : national news free September 19, 2017

   
9/7/2017 1:23:00 PM
Ryan offers some details of tax plan

WASHINGTON (AP) — House Speaker Paul Ryan said today the Republican tax plan will aim to reduce the corporate tax rate to mid- to low-20 percent — a smaller cut than what President Donald Trump wants.

Ryan is providing some specifics as the GOP starts to write legislation overhauling the tax system, with help for the middle class a main goal.  

Trump, who made overhauling taxes a pillar of his push for economic growth, has called for a 15 percent tax rate for corporations. The rate now ranges from 15 percent to 35 percent.

Some experts say a 15 percent rate isn’t possible without blowing a hole in the deficit. 

Ryan recognized that as he discussed a higher range during an appearance at a New York Times forum. “Numbers are hard to make that work,” he said.

Ryan expects tax legislation to pass Congress this year. 

“This is our No. 1 priority this fall,” he said at a Capitol Hill news conference later Thursday. “It’s about growth. It’s about fairness. It’s about finally giving American families a tax break.”

Revising the nation’s tax system for the first time in three decades is a GOP priority in the wake of the collapse of efforts to repeal and replace former President Barack Obama’s health care law. 

But Hurricane Harvey and Trump’s decision to rescind a program protecting some 800,000 immigrants from deportation have saddled Congress with new challenges. When Trump blocked the program known as Deferred Action for Childhood Arrivals, created by Obama through administrative action in 2012, he gave Congress six months to act.

To ensure money for hurricane relief, Trump overruled congressional Republicans and his own treasury secretary Wednesday to cut a deal with Democrats to keep the government operating and raise the U.S. debt limit. 

The already compressed timetable for coming up with an overhaul of the tax system came under further pressure with Congress’ additional and urgent workload. 

Treasury Secretary Steven Mnuchin said Thursday he thinks “it’s still very viable to get it done this year.”

“We’ve made a lot of progress” in talks with GOP congressional leaders, Mnuchin said in an interview on Fox Business Network’s “Mornings with Maria.” “Our objective is to get this done.”

Asked whether he was worried about a revolt by Republicans in Congress if a tax overhaul isn’t achieved, Mnuchin said, “I’m not worried about any GOP revolt at all. You know we’ve been meeting with them on the tax plan. We have an understanding on this tax plan.”




Anderson Jewelers




Article Comment Submission Form
Please feel free to submit your comments.

If you are looking for the SPEAK OUT submission form, you can find it by clicking here: Speak Out Form


Article comments are not posted immediately to the Web site. Each submission must be approved by the Web site editor, who may edit content for appropriateness. There may be a delay of 24-48 hours for any submission while the web site editor reviews and approves it.

NOTE: All information on this form is required. Your telephone number and email address will not be displayed or shared.
Submit an Article Comment
First Name:
Required
Last Name:
Required
Telephone:
Required
Email:
Required
Comment:
Required
Passcode:
Required
Anti-SPAM Passcode Click here to see a new mix of characters.
This is an anti-SPAM device. It is not case sensitive.
   











Dr Paul The Dentist
Trinity Dodge Fixed

NewsWebPagesOpinionPeopleObituariesAg & BusinessSportsContact Us
Subscriptions | Username & Password Reminder | Change Password | Life

Breeze-Courier & Printing | 212 S Main St. Taylorville, IL 62568 | (217) 824-2233 |
website@breezecourier.com

© Copyright 2014 Breeze-Courier & Printing. All Rights Reserved.
Original content may not be reprinted or distributed without the written permission of Breeze-Courier & Printing.

Software © 1998-2017 1up! Software, All Rights Reserved