|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | USA

Trump Wants Tax Reform Package to Be Ready to Sign by Christmas

WASHINGTON – President Donald Trump said on Tuesday that he wants his tax reform plan to be ready for him to sign by Christmas, at the latest, at a White House event at which he said of the “really historic tax cuts” he has promised that “there’s never been anything like this in the history of our country.”

“I want the House to pass a bill by Thanksgiving. I want all of the people standing by my side when we get ready to sign by Christmas,” Trump said before reporters during his meeting with business leaders to discuss the tax reform package.

If the House approves the tax reform bill by Thanksgiving, the Senate would then have about a month to do the same and send Trump the finalized bill for him to sign by Christmas.

“People are going to pay less tax by a lot. Companies are going to pay less tax by a lot. That’s a big difference,” said the president, adding that “companies are going to start rebuilding, and they’re going to stay here. And they’re going to expand, and they’re going to build new plants in this country. They won’t be going to other countries like they have been for many, many decades.”

Tax reform is one of Trump’s legislative priorities during his first year in office, and he has said that it will mean the biggest US tax cuts since the 1980s.

Trump’s proposal, outlined in late September by the White House, includes reducing business taxes from 35 percent to 20 percent and cutting the number of tax brackets for individual income from seven to three: 12 percent, 25 percent and 35 percent.

Last week, the House narrowly approved a budget bill clearing the way for debate in Congress on the president’s tax reform plan.

That bill includes allowing the bill to be approved in the Senate by a simple majority instead of requiring at least 60 votes.

Republicans, who are pushing the plan, have a Senate majority of just 52 seats and so the procedural maneuver is of prime importance for them to be able to muster enough votes to pass Trump’s tax reform.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2015 © All rights reserved