A readout of VP-elect Mike Pence’s meeting with House Republicans may reveal the new administration’s first priority with a GOP-led Congress.
On Thursday, VP-elect Mike Pence met with House Republicans to discuss shared priorities.
In the readout is a hint of what could be the top priority for a Trump administration next year (emphasis ours):
In his address, Vice President-elect Pence reaffirmed the commitment of the Trump Administration to pursue a legislative strategy focused on tax reform and tax relief, in addition to repealing and replacing Obamacare, securing our border, rebuilding our infrastructure, and other priority items to create jobs and increase security.
Now, when Trump was on Capitol Hill last Thursday, he said his top three priorities are immigration, health care, and jobs.
But this readout – with Washington’s itch to pursue tax reform – may push those other priorities to the side.
So, what would a Trump-approved tax reform package look like? Trump has called for reducing the number of income tax brackets from seven (10%, 15%, 25%, 28%, 33%, 35%, 39.6%) to three (12%, 25%, 33%). Trump also calls for raising the standard deduction and eliminating the estate tax. He wants to reduce the corporate tax rate from 35% to 15%.
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