The buzz is beginning to build around Trump's tax plan and what Americans can expect (and perhaps more notably, should not expect) to hear tomorrow.
After seemingly punting on the Border Wall funding, Citi notes that Politico has published an article detailing what is currently expected of the Trump tax plan:
What's In…
"Marquee policy ideas are expected to include infrastructure spending and a childcare tax credit"
"Expected to tout a corporate rate of 15%"
What's Out…
"Not likely to include the border adjustment tax… The border adjustability provision is crucial to the House Republican plan, and Trump’s opposition would force tax writers back to the drawing board because they were counting on it to generate revenue to fund other tax cuts."
"Not expected to include details on ways to offset new spending, or deep tax cuts – though, internally, the White House remains divided as to how much it should address the deficit in tax reform."
In addition to this, Citi points out that House Ways & Means Committee Chairman Kevin Brady has just published a fresh interview on his website exposing some details. Most notably positive was on the corporate tax rate, Brady said:
"I think we can get close to 15 or certainly at 20, and which makes us very, very competitive worldwide."
Brady did not mention the border adjustment tax in this interview. Remember, Brady is still scheduled to meet with Trump, Mnuchin, Cohn, Ryan, McConnell and Hatch to discuss the tax plan today. The timing was never provided.
Finally, one lobbyist talking to Politico, seemed to sum things up rather well…
"We will be disappointed on Wednesday when we see that this is the big announcement… They should not be building this up for a big nothing burger."
via http://ift.tt/2qaOi78 Tyler Durden