WASHINGTON — The Latest on Congress and Republican efforts to overhaul taxes (all times local):
President Donald Trump says he’d still like to see the corporate tax rate reduced to 15 percent as he tries to sell lawmakers on his broad tax reform goals.
Trump tells reporters during a meeting with moderate lawmakers from both parties at the White House Wednesday that he’s still pushing for a 15 percent rate for businesses and would like to see a rate “much lower than that for individuals.”
As for the wealthy, Trump says that “the rich will not be gaining at all with his plan.”
He says the wealthy “will be pretty much where they are” and “if they have to go higher, they’ll go higher, frankly.”
He says his primary concerns are the middle class and passing a plan that may boost jobs.
House Speaker Paul Ryan says the White House and congressional Republicans will release an outline of their tax overhaul plan by the end of the month.
Ryan said Wednesday that after the tax draft is released the week of Sept. 25 a detailed version will be readied in hopes of action by the House later this fall.
Many GOP lawmakers are hungry for details about the upcoming tax plan.
Republicans must agree upon a companion budget plan if the tax effort is to get off the ground.
A Democratic senator says President Donald Trump stressed to a group of senators at the White House that his tax overhaul wouldn’t mean tax cuts for the rich.
Sen. Joe Manchin of West Virginia was among a group of Democratic and Republican senators that talked taxes with Trump at the White House Tuesday. Speaking on MSNBC’s “Morning Joe” Wednesday, Manchin says Trump will focus on tax cuts for the middle class.
The tax overhaul principles Republicans have put forth envision slashes in the corporate tax rate and individual tax rates. The White House hasn’t provided specifics.
Manchin says he does not expect the plan would target popular tax deductions for mortgage interest and charitable giving.
Sen. John Thune, the No. 3 Senate Republican, said on MSNBC that Trump is making a bipartisan appeal and “realizes that doing things is better if you have bipartisan support.”
The White House says President Donald Trump’s dinner with Republican and Democratic senators to talk taxes was “highly productive” and will “spur constructive discussion.”
Trump met Tuesday with Democratic Sens. Joe Manchin of West Virginia, Heidi Heitkamp of North Dakota and Joe Donnelly of Indiana,…