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Detailed text transcripts for TV channel - CNN - 20170426:22:05:00

There is imminent military action likely to be ordered by the trump administration. thank you. now to breaking news on the president s just announced tax package. white house calling for historic cuts without a plan on how to pay for them. jason, these tax cuts would be sweeping if they were to get through congress. you re right. it is a very, very big if. there is a question mark in terms of how all of this will be paid for. treasury secretary says this will happen through economic growth and wolf he says so far everyone is on board. under the trump plan, we will have a massive tax cut for businesses and massive tax reform in simplification. let me go to of the details about the proposal. first of all slashing corporate tax rate down to 15% from 35% lowering the individual income tax rates retuesdaying the ....

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Detailed text transcripts for TV channel - CNN - 20170426:13:13:00

Means simplification and overhauling how you pay your taxes, what kind of deductions you are able to claim and all of that. if they don t propose something specific and expansive in terms of how you alter the structure of the code, it is not really tax reform. the one reason i m sus pirgs is reform is how you pay for it. and without that, we re not really dealing with tax reform. and if we are, then it s very, very complicated on the hill. if not, it s still complicated because of the deficit implications but it may be easier to create consensus because every republican is in favor of cutting taxes. they say this is the biggest tax reform in history, but we have not seen a single proposal which is reform rather than just a cut. and on dynamic scoring, this would take more. it would take wicked dynamic ....

Tax Reform , Cutting Taxes , Deficit Implications , The Hill , Us History , Dynamic Scoring ,

Detailed text transcripts for TV channel - FOXNEWS - 20170426:14:37:00

They take away loopholes. when they tell you that that means the mortgage deduction, the thing that you use or whether it s deducting your state and local taxes. when those things go away the individual realizes the deduction that you are losing that you used to have. that s the argument against simplification are the little goodies that we all use. so i hope it happens because it s the right thing but there is a painful side to it. that s my only warning. bill: and? and please go buy my book. i will make you laugh. if you don t laugh and laugh i ll eat the cover. bill: stay tuned to fox news because next hour president trump will sign a new executive order renewing and reviewing rather national monument designations issued by his predecessors. could be very interesting now. he will give remarks on this, too. well oh we ll see how he sells the ....

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Detailed text transcripts for TV channel - FOXNEWS - 20170426:22:38:00

In the american history. understand under the trump plan, we ll have a massive tax cut for businesses and massive tax reform in simplification. this isn t going to be easy. we re determined to move this as fast as we can and get this done this year. we will be attacked from the left and we will be attacked from the right. but one thing is certain. i would never, ever bet against this president. he will get this done for the american people. bret: well, white house briefing filled with economic analysis of the president s tax reform plan. bullet points here of what it looks like now. the details yet to be filled in. basically cut the number of income tax brackets from three. the top rate is 39.6%. double the standard deduction to reduce taxable income. reduce corporate tax rate from 35% to 15%. repeal the amt alternative tax, ....

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Detailed text transcripts for TV channel - CNN - 20170426:18:09:00

Cohn was dropping, once in a lifetime opportunity, i d never bet against this president, we re at a historic moment. what did you make of that? this president is a very good listener from steve mnuchin, which would raise some eyebrows even among his allies. as someone who keeps a shoebox of itemized deductions, if steven is right and simplification is something that will happen with this tax plan, i think many people will be in support of it. but the problem is, can they get it to that phase? i thought jeff hit the nail on the head, brooke, which is this is an opening gamut. the broadest outline. this is not legislation yet and i think you just saw with health care, these are not things that can be done quickly or easily. steve mnuchin said he d like to have it done by the end of the year. i wonder if we don t have some sense of how it s paid for, i think democrats are going to ....

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