Politics Trump urges Congress to 'move fast' on his tax reform plan

16:07  13 september  2017
16:07  13 september  2017 Source:   CNBC

Pessimism abounds on Trump tax reform effort

  Pessimism abounds on Trump tax reform effort One veteran tax lobbyist, a former member of the Senate Finance Committee staff, said the chances of tax reform are “zero.”One veteran tax lobbyist, a former member of the Senate Finance Committee staff, said the chances of a broad tax reform package similar to the 1986 rewrite of the code are "zero.

President Donald Trump urged Congress Wednesday to act quickly on his tax reform plan , which has yet to be fully revealed. In a tweet, Trump said the approval process for the "the biggest Tax Cut & Tax Reform package in the history of our country will soon begin. Move fast Congress !".

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Move fast Congress !” President Donald Trump wrote on Twitter. | Donald Trump declared online Wednesday morning, urging lawmakers to “ move fast ” on one of his top legislative priorities. Republicans had initially planned to have tax reform completed and signed by the end of last month

Trump To Congress : Get Moving On Tax Reform Already. “The approval process for the biggest tax cut and tax reform package in the history of our country will soon begin. Move fast Congress !,” the president wrote.

Video by FOX News

President Donald Trump urged Congress Wednesday to act quickly on his tax reform plan, which has yet to be fully revealed.

In a tweet, Trump said the approval process for the "the biggest Tax Cut & Tax Reform package in the history of our country will soon begin. Move fast Congress!"

Tax reform is key to Trump's economic agenda, but the administration has faced several hurdles trying to move it forward, including in-party fighting.

Expectations of tax reform have also helped lift the U.S. stock market higher since Trump's election. Since Nov. 8, the S&P 500 has added more than $2 trillion in market value.

Trump later said in a White House statement that a bipartisan meeting with Senators regarding tax reform was "highly productive, and will spur constructive discussion moving forward."

  Trump urges Congress to 'move fast' on his tax reform plan © Provided by CNBC

The bumpy road to tax reform is still driveable .
A word of caution to anyone preparing to throw dirt on the prospect of tax reform this year: Don't break out your shovels just yet. Tax reform is still alive because of a strategic decision by the White House and Republican congressional leaders.The path to passing comprehensive tax reform is becoming clearer. Step one was for the "Big Six" - the White House, Treasury secretary, House speaker, Senate majority leader and the chairmen of the congressional tax writing committees - to get Republicans on one page. This was achieved in their joint statement released in July with more detailed consensus principles expected the week of September 25.

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