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5 questions Trump needs to answer in his new tax plan

5 questions Trump needs to answer in his new tax plan

The meeting was also expected to include Gary Cohn, chief of the White House Council of Economic Advisers, and House Ways and Means Committee Chairman Kevin Brady, R-Texas.

The negotiations over corporate tax are tied in with high-stakes budgetary discussions this week on Capitol Hill as the United States government works to avoid a shut-down this weekend. Instead it passes its profits through to its owners, shareholders and partners, who then report those profits on their individual tax returns.

Top Trump administration officials will hold a rare White House briefing on Wednesday for the entire Senate on the North Korean situation, senior Senate aides say.

It's unclear what kind of revenue raisers Trump's plan will include.

But Americans gave Trump good grades for his initiative to keep jobs in the United States by pressuring companies - with 73 percent approving his tactics.

Korea stages large-scale artillery drill
The joint drill is reported to be aimed at demonstrating the allies' resolve to retaliate for any provocations by Pyongyang. Envoys from the US, Japan and South Korea met in Tokyo, with a senior Chinese official due to arrive later in the day.

Such a dramatic rate cut would also likely set up a clash with Republican leaders on Capitol Hill. "They'd have to do something that raises taxes elsewhere".

"I'm not convinced that cutting taxes is necessarily going to blow a hole in the deficit", said Utah GOP Sen.

For example, the Tax Policy Center estimated in November that Trump's 15% proposal for corporations and pass-throughs, coupled with a repeal of the corporate Alternative Minimum Tax, could reduce revenue by almost $4 trillion in the first decade.

To put that in context, that's close to $400 billion a year - which is more than the $304 billion the government spent last year on income security programs such as food stamps, unemployment benefits and child nutrition, according to numbers from the Congressional Budget Office.

The Wall Street Journal first reported Trump's request to cut the corporate tax rate to 15 percent Monday afternoon. So absent those, it's hard to do a more tailored cost estimate. The higher the tax rate on these accumulated offshore earnings, the more funding will be available for public investment in infrastructure.

NKorea marks military anniversary with firing drill
The United States has speculated that North Korea could carry out another nuclear or missile test timed to Tuesday's celebration. Experts predicted a possible nuclear test or ballistic missile launch to celebrate the anniversary, which did not occur.

Administration officials cautioned that nothing is final.

Fifty-four percent of respondents said they have no issue with Trump spending time at his Florida resort Mar-a-Lago; 43 percent said they see it as a conflict of interest because it promotes the commercial property. Experts throw cold water on that idea, since there is no evidence that tax cuts pay for themselves.

The Rasmussen poll is likely to confuse U.S. media consumers following front page reports over the weekend from ABC News, the Washington Post, NBC News and the Wall Street Journal, which showed Trump's approval of between 40 and 42 percent.

Republicans have been working under a budget maneuver that would allow them to pass a tax bill without Democratic support in the Senate - but only if it didn't add to long-term deficits.

"I'd love to do that". "If they are only talking about the corporate rate and not helping small business, I think that would certainly for me be a non-starter", she said.

Trump recalls killing of Armenians, doesn't call it genocide
For decades, USA presidents, including Barack Obama and current President Donald Trump, have avoided using the word "genocide" to describe what happened.


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