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Trump tax strategy: Cut a few compromises but don't count on Democrats
Source:
usatoday.com
- Oct 19, 2017
ASHINGTON — President Trump's upcoming push for his tax cut plan next month will include compromises that will limit some of its current benefits for the nation's richest taxpayers, according to White House officials.
The compromises will include ending a 23.8% preferential tax rate for hedge-fund managers, or the so-called carried interest rate, White House legislative affairs director Marc Short told USA TODAY. "He's not just open to it," said Short. "I would say, frankly, he wants it," he said.
Retaining parts of a state and local tax deduction that benefits many middle-class families in blue states is also an area where Trump is expecting compromise as House Republican negotiators hash out legislation capable of winning the support of a number of party members representing high-tax blue states like New Jersey and New York, said Short.
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Category: General Business
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