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PRESIDENT TRUMP PUTS TAX REFORM ON THE TABLE

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President Trump has chosen Springfield, Missouri, to outline his planned tax reforms for the United States.

President Trump’s speech, which used overarching themes, outlined the four principles which would guide the reforms. First, a tax code that is easy and simple to understand. Second, a tax rate that would allow businesses to remain globally competitive. Third, tax relief for middle-class families. Fourth, tax breaks for corporate profits repatriated abroad.

During his speech, President Trump stated:

“We’re here today to launch our plans to bring back Main Street by reducing the crumbling burden on our companies and on our workers. The foundation of our job creation agenda is to fundamentally reform  our tax code for the first time in more than 30 years.”

President Trump went on to note that tax reform would help small business and encourage economic growth at all levels. He commented that ninety-percent of taxpayers required help filing their taxes and that the current system only benefited those who could afford good tax lawyers and accountants.

President Trump also implored the US Congress, in particular, the Democrats, not to blow their chance at tax reform. President Trump said:

“This is our once in a generation opportunity to deliver real tax reform for everyday, hardworking  Americans. This is our opportunity to deliver real tax reform for Americans. I am fully committed  to working with Congress to get this job done.”

Speaking to Democrats, President Trump said:

“Put the partisan posturing behind us and come together as Americans, to create the 21st-century tax code that our people deserve. What could possibly be more bipartisan than helping people keep more  of what they earn?”

Whilst it is believed tax reform will increase employment among Americans, Republican Senator from Kentucky, Rand Paul,  has expressed concern about overhauling the tax code without first lowering revenue. In an op-ed for CNN, Paul stated:

“Tax reform can be simple, but I’m afraid those who are in charge will make it unnecessarily complicated.”

Despite this, there have been concerns over the effects of tax cuts on the Federal budget deficit and Federal debt levels. Furthermore, there is also concern that the White House may have a difficult time selling their tax reforms to the American people. Cliff Simms, the White House Director of Message Strategy, dismissed this, saying:

“I think that the media underestimates the economic understanding of the American worker out there  — middle-class, rural, blue-collar folks in Michigan and Ohio and Pennsylvania and other states  around the country who have watched the tax code, the tax system as it is today play a huge role in  their factories closing and being shipped overseas. They totally understand competitiveness and  totally understand how this is going to — in the President’s words — help us win again.”

LATEST ATTEMPT TO REPEAL AND REPLACE OBAMACARE A FAILURE

 

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Monday night, Utah Republican Senator, Mike Lee, and Kansas Republican Senator, Jerry Moran, joined Kentucky Republican Senator, Rand Paul, and Maine Republican Senator, Susan Collins in announcing their refusal to support the motion to proceed on the latest Obamacare Replacement Bill.

Positively, the legislation would have axed individual mandates (which prevented health insurance companies from altering their rates based on the health of the individual),  insurance subsidies, the expansion of Medicaid, and funding for Planned Parenthood.

The Republican mandate has faced strict opposition from both the Democrats and the public. According to an article published by National Review, the majority of the American public dislike individual mandates and desire lower health care costs over all health problems. In spite of this, however, the American public also dislikes attempts to roll-back coverage on pre-existing health conditions.

The Democrats, needless to say, have been overjoyed at the legislation’s failure. Vermont Senator, Bernie Sanders, stated: “I am delighted to see that the disastrous Republic health care plan will not succeed.” Meanwhile, the chair of the Democrat National Committee, Tom Perez, referred to the defeat as a “victory for human decency.”

Speaking from the White House, President Trump commented: “I am disappointed, very disappointed. For so many years I’ve been hearing ‘repeal and replace, let Obamacare fail and then everyone will have to come together to fix it.'” President Trump went on to say: “let Obamacare fail, it’ll be a lot easier, we’re not going to own it. I’m not going to own it. I can tell you Republicans are not going to own it. Let Obamacare fail and then Democrats are going to come to us asking ‘how do we fix it?'”

Republican responses to the failed legislation appear mixed, however. Senate majority leader, Mitch McConnell, has made an executive decision to revive the Republican’s 2015 Obamacare repeal bill (originally vetoed by President Obama). The bill would repeal Obamacare over two years. But, as a 2017 Congressional Budget Office report points out, the repeal would leave thirty-two million Americans uninsured by 2026.

Other Republicans, such as New Jersey Governor, Chris Christie, have suggested that President Trump abandon his focus on repealing and replacing of Obamacare and instead focus his energies on other priorities. In an interview with MSNBC, Christie commented: “I’d advise him to move on and move on to other priorities like tax reform and infrastructure. I’ve said that to the president for months. I don’t think there’s a will in Congress. I think they’ve shown that there’s no will in Congress for them to work with each other.”

In an attempt to find a solution to the issue, President Trump is planning to host a lunch at the White House with all fifty-two GOP Senators.