Trump and taxes: Back to drawing board, seeks GOP consensus

Paterniano Del Favero
Aprile 18, 2017

The payments are used to reduce copayments and deductibles for poor people. "I want to do it first to really get it right". "It will be interesting to see how this is put together", the Senate majority leader told reporters. "This cynical strategy will fail".

Trump's threats to end the payments come as the Obamacare repeal effort in Congress has faltered.

U.S. President Donald Trump will meet with about 20 chief executives Tuesday including heads of General Motors Co (GM.N), International Business Machines Corp (IBM.N) and Wal-Mart Stores Inc (WMT.N) as he works to gain support for a US$1 trillion infrastructure program, tax reform and other administration priorities, a government official briefed on the matter said. Is it tax avoidance, business entanglements with foreign governments or just that he doesn't have as much money as he wants us to think?

"Health care is going to happen at some point", Trump said. Now if it doesn't start fast enough, I'll start the taxes.

It sounds like the Trump administration is going back to the drawing board on tax reform. If it's based at all on the "Better Way" plan created by House Speaker Paul Ryan, then there is no doubt it will not be true tax reform. Furthermore, other presidents have made their tax returns public despite undergoing annual audits required of all presidents while in office. But the White House is still working on Trump's "goals and principles" for an overhaul, he said. Repealing the law would give green-eyeshade-wearers in Congress an equal amount of wiggle room to lower the budget "baseline" overall with some Medicaid sleight-of-hand. House Republicans sued to block the payments in 2014, but the Obama administration, and now the Trump White House, have defended against the challenge as it goes through the courts.

Trump said, "I like Steve, but you have to remember he was not involved in my campaign until very late". To add insult to injury, if you make above a certain threshold of income - $118,500 in 2015 - you don't pay any tax on earnings above that cutoff. It hasn't always been clear whether this sentiment was intended as a prediction of an event Trump (wrongly) believed to be inevitable - or as a promise to bring Obamacare down by any means necessary. "The administration is now deciding its position on this matter", said Alleigh Marré, a national spokeswoman for the Department of Health and Human Services. "The report was in reference to the current status of the lawsuit and is not an indication of what will happen in the future". Last May, a federal judge agreed - but she put her decision on hold while the Obama administration appealed.

"Insurance companies would lose billions of dollars of cost-sharing subsidies", Robert Laszekwski, a health policy consultant, said in a recent interview.

Trump said he had already jumped major hurdles in the campaign by that time, beating "all the senators and all the governors" before he met Bannon.

On a Monday conference call, members of the caucus discussed a pair of tweaks to the bill that they concluded could possibly win their support: One would slightly modify a previous proposal to allow states to apply for waivers from Affordable Care Act insurance mandates, making clear that insurers could not price their products based on a person's health but could use other factors not now allowed under the ACA.

"They had weeks and weeks of hearings", recalled Rachelle Bernstein, a tax lobbyist for the National Retail Federation, who worked on the overhaul in the 1980s while at the U.S. Chamber of Commerce. After they were dealt a stinging defeat when conservative Republicans refused to vote for a GOP health care plan, Trump angrily said he was pivoting to tax reform and has been peppering his top economic adviser, Gary Cohn, for details of their tax timeline ever since.

Altre relazioni OverNewsmagazine

Discuti questo articolo