Page 12 - Tax Decrease News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The president has weighed in during his trip. he said he wants congress to cut the top tax rate and the unfair as he put it and highly popular individual mandate in obamacare. >> the president is really asking for two simple things. he wants to reduce the corporate tax rate. he wanted 15% originally now bucking for 20%. he wants to make sure the middle class does not get a tax increase. they get a substantial tax decrease. it's a winning proposition. what really has to happen is the house and senate pass a bill and they go to reconciliation and the reality is about six people will sit in that ...

Trillion tax cut into a $1.5 trillion hole. they're basically willing to spend $1.5 trillion of deficit money, of debt accumulated over time, but the plans all add up to about 5 trillion. so you have to get rid of some of that if you want to get it into law. a lot of republicans believe they'll end up with some sort of tax decrease for individuals, man a little bit more around the edges of that, but the sort of larger tax reform is something they'll have to hold off for another day. >> while you're here, i want to ask you about this piece you wrote for nbcnews.com on steve bannon. welcome to s...

He gave me a super bowl ring a month ago which was very nice. he left this beautiful ring and i immediately give it to the white house and they put it someplace and that's the way it is. >> how great. >> he's a goodman. he said to me, you have to do us all a favor. give the tax decrease to the middle class. we don't need it. we don't need it. we don't want it. give it to the middle class. >> donald trump is testing a new line in his sales pitch for the gop tax plan. that his tax cuts are a gift from the super rich to you, the american people. back with me now writer and commentator pollster fe...

That republicans are asking. senator corker who president trump has had a twitter feud in the last several days said he wouldn't vote for a package if it increases the deficit. the democrats, it's one of their biggest charges. this tax decrease would lead to an increase in the deficit. so that's absolutely one of the more controversial questions that different people have different answers to. >> jon: jeff mason, reuters correspondent waiting for the event at the white house. >> melissa: one of the debates around this, the reason why nancy pelosi was saying that the corporate tax rate -- that ...

For individual taxpayers. a lot for business. two, it would significantly increase the national debt and, three, it is really, really bad news for blue states, new york, connecticut, california, that have high state and local taxes. so let's take a quick look at some of the numbers. it's a $5.8 trillion tax cut on the top line, $3 trillion allegedly for individuals, but in fact they eliminate a number of important itemized deductions for individuals, particularly state and local taxes. so on average, these are all very rough early numbers, because they haven't released all the details, but on ...