Eight weeks ago the president said he would be releasing a “phenomenal” tax plan within two or three weeks. But there’s no sign of a plan yet, and mixed signals from the White House are imperiling Republican promises of speedy action.
Senate Majority Whip John Cornyn said Thursday it’s uncertain whether Congress will offset the tax cuts that Republicans hope to deliver with new revenue, creating the chance that their tax-overhaul plan would be limited to 10 years.
As President Donald Trump huddles with advisers over plans for a tax overhaul, Congress is considering options to soften a controversial centerpiece of the House Republicans’ tax plan—a step that might mean smaller tax cuts for corporations.
Some of the world’s biggest companies are readying their balance sheets for tax-law overhauls before a single bill has been introduced in Congress, trades that can net them millions of dollars in savings if rules are reworked.