President Donald Trump’s tax plan cuts the corporate tax rate to 20 percent, but the president wanted to go even lower before starting to negotiate with Democrats.
“Yes, the 20 percent is non-negotiable. I wanted to do it at 15 percent. This is for business. I wanted to do it at 15 percent. If you look at China, China is at 15 percent. Other countries are at — higher,” Trump told “Fox & Friends” in a wide-ranging interview Thursday morning. “I was going to start at 15 and maybe negotiate up to 20. But the numbers really work at 20, so we’re putting it in at 20, but we’re not going to negotiate.”
President Donald Trump said Thursday morning that Democrats don’t want comprehensive tax reform, which he rolled out Wednesday afternoon in a speech in Indiana.
“Democrats don’t want massive tax cuts – how does that win elections? Great reviews for Tax Cut and Reform Bill,” the president tweeted Thursday afternoon.
At least three Democratic senators and eight House members are actively engaged in ongoing negotiations with Trump and members of his administration to accomplish the first major legislative achievement of the president’s first term in office.
While some Democrats are already working with the president, a coalition of roughly 45 Democrats in the Senate, including Senate Minority Leader Chuck Schumer, could give the administration trouble going forward. The group has promised to reject any bill that cuts taxes on the wealthy.
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