clear
Sunday September 24th, 2017 12:59AM

The Latest: GOP ponders tax overhaul's effect on deficit

By The Associated Press
Related Articles
  Contact Editor

WASHINGTON (AP) — The Latest on Republican efforts to overhaul taxes (all times local):

4:15 p.m.

Senate Republicans are struggling with how many billions of dollars President Donald Trump's tax code overhaul will add to the deficit as they work on a GOP budget plan that's a prerequisite to any far-reaching change in the nation's tax system.

Senate Majority Leader Mitch McConnell and GOP members of the Budget Committee met Tuesday with Trump's top economic adviser, Gary Cohn, and Treasury Secretary Steven Mnuchin. They are hoping to make progress on forging the budget plan, which is required to stave off potential Democratic blocking tactics and pass the subsequent tax bill only with GOP votes.

Mnuchin says, "Passing tax reform, which hasn't been done in 31 years, that is a win."

The as-yet-undrafted bill to overhaul the tax code is the top priority for Trump and Republicans.

__

9:51 a.m.

The White House says it will soon release legislative priorities for its plans to overhaul the nation's tax system and to address hundreds of thousands of young immigrants brought to the United States illegally as children.

White House legislative director Marc Short says its principles for the tax overhaul will be released "in a matter of days, not weeks." President Donald Trump has been pushing for changes to the tax code to cut corporate and individual rates and simplify the system.

Trump is rescinding the Deferred Action for Childhood Arrivals program, or DACA, but giving Congress six months to address the issue. Short says the White House will be putting out its priorities for the program in the next couple of weeks. Short spoke at a Christian Science Monitor breakfast.

_____

9:31 a.m.

Three moderate Democrats are among a bipartisan group of lawmakers having dinner with President Donald Trump on Tuesday.

A key topic of discussion is Trump's push for Congress to send him a bill to cut taxes for corporations and individuals.

The White House says Democratic Sens. Joe Manchin of West Virginia, Heidi Heitkamp of North Dakota and Joe Donnelly of Indiana will be joined at dinner by Republican Sens. John Thune of South Dakota, Orrin Hatch of Utah and Pat Toomey of Pennsylvania.

The Democrats hail from states Trump won in November, and the White House is interested in getting their support for a tax bill.

Heitkamp traveled with Trump aboard Air Force One last week when he spoke broadly about the tax plan in her home state of North Dakota.

_____

3:35 a.m.

The Senate Republican leader and members of the Budget Committee are scrambling to come up with a budget deal to clear the way for the first tax overhaul in three decades.

Senate Majority Leader Mitch McConnell and GOP committee members are meeting Tuesday with President Donald Trump's top economic adviser, Gary Cohn, and Treasury Secretary Steven Mnuchin.

Under Washington's complicated ways, passing a congressional budget blueprint is the only way to set in motion a special process for rewriting the tax code. If Congress can pass a budget, Republicans controlling the Senate don't need to worry about a Democratic filibuster blocking any tax bill.

House action has been held up by a battle between moderates and conservatives over whether to pair spending cuts with the filibuster-proof tax measure.

  • Associated Categories: Associated Press (AP), AP Online Headlines - Washington, AP Online Congress News, AP Business, AP Business - Economy, AP Business - Personal Finance
© Copyright 2017 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
The Latest: GOP ponders tax overhaul's effect on deficit
Senate Republicans are struggling with how many billions of dollars President Donald Trump's tax code overhaul will add to the deficit as they work on a GOP budget plan that's a prerequisite to any far-reaching change in the nation's tax system
4:20PM ( 7 minutes ago )
Boudia preparing to make 1 more chase at Olympic gold
Olympic gold medalist David Boudia isn't giving up his Olympic dreams yet
4:16PM ( 11 minutes ago )
Big holdup for borrowers claiming for-profit college fraud
Education Department holding up decisions on claims of fraud against for-profit college student fraud
4:14PM ( 13 minutes ago )
Associated Press (AP)
Hillary Clinton signs copies of new book at NYC bookstore
Hundreds of people have crowded into a New York City bookstore to see Hillary Clinton as she promotes her new book on the 2016 presidential campaign
3:52PM ( 36 minutes ago )
Investigators fault driver in Tesla Autopilot crash
NTSB: The first known fatal crash of a highway vehicle operating under an automated control system was partially the result of a driver's over reliance on the technology
3:49PM ( 39 minutes ago )
Senate GOP struggles with deficit in work on budget, taxes
The Republican Senate leader and members of the Budget Committee are scrambling to come up with a budget deal to clear the way for the first tax overhaul in three decades
3:47PM ( 40 minutes ago )
AP Online Headlines - Washington
Mnuchin says he's still hopeful for tax bill by year's end
Mnuchin says he hopes Congress can still pass major tax overhaul before end of this year
12:26PM ( 4 hours ago )
New York to hold primaries for offices including NYC mayor
Voters across New York state are heading to the polls to pick the winners of local primary elections
11:11AM ( 5 hours ago )
Unhappy moderate House Republicans complicate 2018 for GOP
Democrats are relishing the growing number of congressional Republicans deciding not to seek re-election next year
10:39AM ( 5 hours ago )
AP Online Congress News
Apple unveils $999 iPhone X, loses 'home' button
Apple unveils $999 iPhone X, loses 'home' button
4:03PM ( 24 minutes ago )
Protests over French labor overhaul grip Paris, other cities
The Eiffel Tower saw service cutbacks, angry carnival workers snarled traffic around the Arc de Triomphe and police used water cannon and tear gas as unions held protests in Paris and elsewhere against planned changes to French labor laws
3:41PM ( 46 minutes ago )
Charles Oakley sues Knicks owners, claiming defamation
Former New York Knicks star Charles Oakley has sued the team's owners, saying he was defamed when they claimed he committed assault and was an alcoholic
3:14PM ( 1 hour ago )
AP Business
The Latest: Eiffel Tower reduces service amid Paris protests
The Eiffel Tower had to reduce service amid a day of union-organized protests against President Emmanuel Macron's proposed changes to France's labor laws
1:01PM ( 3 hours ago )
The Latest: Police use tear gas as youth join Paris protest
Police have used water cannon and tear gas on several hundred hooded youths who joined a Paris protest march against French President Emmanuel Macron's pro-business labor policies
12:07PM ( 4 hours ago )
US warns China, Russia to comply on NKorea sanctions
Trump administration says new international sanctions on North Korea can only bite if they are properly enforced and warns the U.S. will punish companies in China and Russia unless their governments crack down on evasion of the restrictions
11:30AM ( 4 hours ago )
AP Business - Economy
How millennials got a 6-figure start on retirement saving
According to Fidelity Investments data, millennial long-term participants in a 401(k) now have an average balance of over $100,000
11:05AM ( 5 hours ago )
The Latest: Some Dems to join Trump for dinner about tax cut
Three moderate Democrats are among a bipartisan group of lawmakers having dinner with President Donald Trump on Tuesday
9:39AM ( 6 hours ago )
Gulf real estate expo highlights affordable housing shortage
The Middle East's premier real estate event showcased thousands of new luxury apartments and villas for the Gulf's moneyed investors, but lacking from the glistening mock-ups were projects to address a growing and urgent need for more affordable housing
2:15PM ( 1 day ago )
AP Business - Personal Finance
Boudia preparing to make 1 more chase at Olympic gold
Olympic gold medalist David Boudia isn't giving up his Olympic dreams yet
4:16PM ( 12 minutes ago )
Big holdup for borrowers claiming for-profit college fraud
Education Department holding up decisions on claims of fraud against for-profit college student fraud
4:14PM ( 13 minutes ago )
Danica Patrick done at Stewart-Haas Racing
Danica Patrick is done at Stewart-Haas Racing over sponsorship issues
4:14PM ( 14 minutes ago )
For profit-college fraud claims could be held up for months
Education Department wants to wait longer to decide on cases of for-profit college student fraud
4:13PM ( 15 minutes ago )
The Latest: Trailer park destroyed in Florida Keys
Hurricane Irma has completely destroyed a trailer park in the Florida Keys community of Islamorada
4:07PM ( 21 minutes ago )