Trump says rich might pay more in taxes, talks with Democrats

Why Ryan, undercut by Trump, may actually emerge stronger

House Speaker Paul Ryan (R-Wis.) on Wednesday said it would be a mistake to deport beneficiaries of the Deferred Action for Childhood Arrivals (DACA) program.

Ryan previously supported the so-called border adjustment tax to raise revenue to help pay for tax reform (the tax would have raised an estimated $1.2 trillion), and House Republicans said in the tax plan they released a year ago that they envisioned the plan being revenue neutral.

Heitkamp traveled with Trump aboard Air Force One last week when he spoke broadly about the tax plan in her home state of North Dakota. The as-yet-undrafted bill to overhaul the tax code is the top priority for Trump and Republicans after the collapse of their effort to dismantle Barack Obama's health care law. "That is more important than anything else because if we have tax reform that doesn't actually fix our problems, then we'll lose more and more businesses, and the deficit will go even higher".

"Deep cuts to our corporate, individual, and other tax rates are very costly".

"It will be revenue neutral under our growth assumptions", Mnuchin said. He said lowering taxes also could cause confidence in the population and spur the economy in a term he called, "dynamic growth".

And conservatives demanding that spending cuts accompany any extension of the government's borrowing ability were undercut by Trump, who agreed last week to add temporary borrowing approval to a must-pass Harvey relief bill. There has also been talk in the Senate about increasing tax rates on capital gains and dividends. Ryan and his team outlined a plan aimed at cutting corporate tax rates from 35 percent to somewhere around 20 percent, and pass-through tax rates to around 25 percent.

Steven Rosenthal, a senior fellow at the nonpartisan Tax Policy Center think tank in Washington, said Trump was unlikely to raise taxes on investment income.

Senate Republicans are struggling with how many billions of dollars President Donald Trump's tax code overhaul will add to the deficit as they work on a GOP budget plan that's a prerequisite to any far-reaching change in the nation's tax system.

Manchin pointed out that nobody has seen the details of Trump's plan, and that he made it clear to the president that he "cannot look at my 10 babies, my wonderful grandchildren, and say 'look at what we left you'".

Shortly after speaking with President Trump, Speaker Paul RyanPaul RyanTrump, Dem leaders reach agreement on young immigrants Trump steps up courtship of Dems Lawmakers huddle on replacing Dreamer legislation MORE (R-Wis.) said Thursday there is still "no agreement" with Democrats on how to help thousands of immigrants brought to the USA illegally as children. One of Trump's major campaign promises was building a wall the entire length of the U.S. Trump also met with a group of moderate members of Congress from both parties Wednesday afternoon, where he urged them to come up with a bipartisan solution to protect DACA recipients, who have become known as "Dreamers". "But at the same time, I think it's only reasonable - it makes flawless common sense - that we deal with the problem that was the root cause of this, which is we do not have operational control of our borders".

Trump says the rich won't get anything. "Now it might not work out".

Rep. Dave Brat, R-Va., was among those who said he is not willing to vote for a budget that could lead to another failure, this time on tax reform.

Trump blindsided Republican leaders last week by striking a deal with Schumer and Pelosi on the USA debt limit and federal spending for three months.

MARTIN: That's Speaker of the House Paul Ryan speaking yesterday to the Associated Press. That's the six senior policymakers leading the tax overhaul effort.

Asked about Trump's comment on a possible tax increase for the wealthy, House Ways and Means Chairman Kevin Brady said: "My goal is to lower taxes on every American as much as possible and help them keep more of what they earn".

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