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Ryan won't say tax cut won't raise deficit

Ryan won't say tax cut won't raise deficit

Trump has said he wants Congress to "legalize" the program, and he met with Democratic congressional leaders on Wednesday night to discuss a legislative way forward, but it's still far from likely that such a bill will make its way to his desk given most Republican legislators' stance on what they call "amnesty" for undocumented people. And some conservatives were voicing concerns about Trump's newfound fondness for making deals with Democrats, as he did last week on the debt ceiling with House Minority Leader Chuck Schumer of NY and House Minority Leader Nancy Pelosi of California. Both Pelosi and a top White House staffer also indicated Tuesday that they were open to a compromise on border security to expedite legislation protecting DACA recipients. "But Ryan dismissed the possible deal as preliminary discussions and insisted any agreement must have buy-in from GOP leaders".

Brady thanked members during a closed-door meeting Wednesday for their hard work on a tax overhaul and emphasized that it's more important than ever for the GOP that it delivers on its tax promises, according to a person familiar with the meeting who asked not to be named. In fact, nonpartisan studies consistently suggest most of the benefits of corporate tax cuts go to company owners or investors, not to hire more workers or raise wages.

Yet it's unclear what shape the eventual tax legislation will take.

President Trump on Wednesday reaffirmed his goal of lowering the United States' corporate tax rate to 15 percent, saying that doing so would put the country on par with China.

Paul Ryan is the 54th Speaker of the U.S. House of Representatives. Now serving his tenth term in the House he represents Wisconsin's First Congressional District

Representative Henry Cuellar, a Texas Democrat who also met with Trump Wednesday, said the president told the group: "I'm not asking you to go out there and sell a tax cut for the rich".

President Donald Trump is in a big rush for Congress to approve big tax cuts, and he is using the damage left by Hurricane Irma to argue his case. Republicans point out the USA corporate tax rate is the highest in the world, but in fact most companies pay a far lower rate, and after deductions and credits the highest effective tax rate is just over 19 percent. "And so that's what we're going to give a shot", he said. But none have presented details of a plan. The Tax Policy Center, a joint effort of the Urban Institute and the Brookings Institution, estimates that the tax cuts Mr. Trump outlined in broad detail this spring would increase the deficit by $7.2 trillion over the first decade.

Cruz, who opposed Trump for the Republican presidential nomination past year, gave a speech Wednesday on his goals for tax legislation during an event sponsored by the Tax Foundation, a Washington policy group.

"We need tax reform to benefit everyone, to lift people's after-tax incomes", Cruz said.

North Korea Is Pushing Its Limits With The Trump Administration
Dictator Kim Jong-un has repeatedly threatened to attack both Guam and Japan with missiles, possibly using nuclear warheads. Former top White House aide Steve Bannon told a reporter in August that there are no military solutions for North Korea.