Trump Pushes Tax Overhaul, Pledges To 'Bring Back Main Street' - Insurance News | InsuranceNewsNet

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August 31, 2017 Washington Wire
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Trump Pushes Tax Overhaul, Pledges To ‘Bring Back Main Street’

Winston-Salem Journal (NC)

SPRINGFIELD, Mo. - President Donald Trump launched his fall push to overhaul the nation's tax system by pledging Wednesday that the details-to-come plan would "bring back Main Street" by reducing the crushing tax burden on middle-class Americans, making a populist appeal for a proposal expected to heavily benefit corporate America.

Trump said his vision for rewriting the tax system, a key campaign pledge, would unlock stronger economic growth and benefit companies and workers alike. He promised it would be "pro-growth, pro-jobs, pro-worker and pro-American."

True to form for the president, Trump dangled the prospect of the "biggest ever" tax cut and warned that without it, "jobs in our country cannot take off the way they should. And it could be much worse than that."

Trump, who rarely travels to promote his policy agenda, chose to debut his tax overhaul pitch before employees at a manufacturing plant in Springfield, Mo., a community known as the birthplace of Route 66, one of the nation's original highways, and one known as America's Main Street.

"This is where America's Main Street will begin its big, beautiful comeback," the president declared.

After eight months without any major legislative victories and after a significant defeat on health care, Trump and Republican congressional leaders face mounting pressure to notch some significant achievements before next year's midterm elections. But the tax overhaul effort already is facing political headwinds.

The White House and Republican lawmakers have not finalized details of the plan, and the push comes as Congress returns to face an intense September workload filled with must-do items such as raising the debt limit, funding the government and providing assistance for the Harvey recovery effort.

While the White House has been designing a tax plan aimed at appealing to Republicans, Trump sought to cast the effort in bipartisan terms.

The president called on members of both parties to work with him on a "once-in-a-generation opportunity to deliver real tax reform for everyday hard-working Americans."

"I am fully committed to working with Congress to get this job done - and I don't want to be disappointed by Congress, do you understand?" Trump said. "Do you understand? Congress. I think Congress is going to make a comeback."

The president used the official White House event to inject an overtly political message aimed at Missouri Democratic Sen. Claire McCaskill, a top Republican target in next year's midterm elections.

"We must lower our taxes, and your senator, Claire McCaskill, she must do this for you. And if she doesn't do it for you, you have got to vote her out of office," Trump said, drawing out each of the last five words for emphasis.

Even before Trump took the stage, Democrats eagerly laid down their own markers for what the tax plan should look like.

Senate Minority Leader Chuck Schumer outlined a series of conditions, telling reporters the tax cuts should not go to the wealthiest 1 percent of Americans. He added that the plan should not increase the budget deficit and should be written by both parties - not just Republicans like the GOP's failed health care effort.

In an interview with the Financial Times last week, Gary Cohn, a top Trump economic adviser, said the White House and Republican leaders had agreed on a "good skeleton" for the plan, and said the tax-writing committee in the House would be drafting legislation while the White House tries to sell it.

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