Ahead of Trump's Missouri speech on Wednesday, AFT released a point-by-point rebuttal of the key claims and assumptions behind the president's-and the GOP's-tax agenda. "That was below the average rate for developed countries at the time", Trump said.
The specifics are expected to get hammered out in House and Senate committees, The White House told reporters.
(President Trump) "I'm calling on Congress to provide a level playing field for our workers and our companies".
Additionally, when lawmakers return from recess in September they will have a tall to-do list of must-pass items to accomplish before tax reform can be addressed.
With Republicans still reeling from their failed effort to dismantle the Affordable Care Act, popularly known as Obamacare, Trump's remarks could bolster tax reform as a priority for Congress.
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By easing the tax burden on business owners, especially small business owners, we give them the possibility to invest more into their businesses - meaning that they can expand their businesses and hire more workers. That should help all those struggling white working class folks who voted for Trump. They seem to have rejected President Donald Trump's goal of a 15 percent corporate tax rate: Bringing the rate down that low would bring in too little revenue.
"In 1986, Ronald Reagan led the world by cutting our corporate tax rate to 34 percent". Claire McCaskill, a vulnerable Democrat in a state Trump carried overwhelmingly in 2016, to join in supporting the tax reform push.
As an alternative to Trump's regressive, billionaire-friendly plan, AFT described what "real" tax reform would look like. It will, though, make the case that tax code changes, particularly the corporate rate, are necessary for improved economic conditions.
After more than seven months in power, Trump and Republican leaders who control both the U.S. Senate and the House of Representatives are still far from agreement on a tax package, leading some market analysts to lower expectations for changes this year. The president has already put pressure on McCaskill, tweeting Sunday that the senator stands opposed to "big tax cuts".
"I am now going to say that I'm very hopeful and I think we can get this done by the end of the year, but we will continue to revisit that".