President Trump faces a stark question as he and Republicans in Congress move ahead on tax reform: Can he come up with a plan that helps the people who elected him, or will most of the rewards go to the richest Americans?
The president ran for the White House as the voice of working- and middle-class Americans.
The outline calls for a reduction of the corporate tax rate to 20 percent from its current rate of 35 percent.
Conservative activist Grover Norquist, the president of Americans for Tax Reform, argued that “The broad outline is fine. They are dedicated to keeping taxes low.”
Norquist also mocked “The idea that they could take the corporate rate down from 35 percent to 20 and not have dramatic growth.”
The overall plan, he added, was as “Dramatic” as the Reagan tax reforms.
The Trump tax outline does include some measures that would ostensibly help voters on more modest incomes.
Even with just days to go until the release of the more detailed tax plan, Republicans, including the president, are grappling with how to pay for it.
Other options, such as a smaller corporate tax cut or a reversal on the estate tax would likely run afoul of many Republicans – and could meet with resistance from the president himself.