Tax Reform Breakthrough? Trump To Host White House Dinner With Schumer, Pelosi

Tyler Durden's picture

Today's reincarnation of the "Trump Rally", manifested by a jump in small-cap stocks, which as a reminder are the best equity proxy for the future of the US economy, and a long-overdue spike in US dollar...

... is due to the previously observed spark in Trump tax plan talk, whose outline Paul Ryan said earlier could be unveiled as soon as September 25, as well as a report that Trump's tax reform discussions would include Senate Democrats. Now, adding to the speculation that Trump may actually pull off another deal with Democrats over GOP objections, is a report from ABC that one week after allying himself with Democratic congressional leadership on efforts to raise the debt limit and provide money for hurricane relief, on Wednesday night Trump will host top Democrats, Senate and House Minority Leaders Chuck Schumer and Nancy Pelosi for dinner at the White House to discuss DACA, health care reform along with "fall deadlines" - two points that have become Democrat bargaining chips for Trump's agenda.

While not explicitly mentioned, Trump will certainly also discuss his proposed tax plan. More details on tonight's meeting from ABC:

The focus of Wednesday's dinner, according to sources familiar with the meeting, will be to discuss protections for so-called Dreamers, undocumented immigrants currently protected by the Deferred Action for Childhood Arrivals (DACA) policy, which the administration said last week it would end in six months. The trio will also talk about efforts to stabilize health care markets.

 

The dinner will follow a bipartisan roundtable between a number of leading moderate House Democrats with Trump Wednesday afternoon.

Rep. Josh Gottheimer, D-N.J., a leader of the House Problem Solvers Caucus, said the White House legislative affairs office invited him and other members to discuss health care, tax reform and infrastructure Wednesday afternoon.  "I'm hoping this is part of a new era of bipartisanship. Because that's what people want," he said.

Gottheimer, who attended a bipartisan meeting at the White House last week on New York and New Jersey infrastructure projects, told reporters he wants to discuss the status of young undocumented immigrants with Trump, and push for a vote to address the expiring DACA policy.  "If there's bipartisan support to get something done, let's bring it to the floor and get legislation passed," he said.

Among the republicans invited to the session is Tom Reed, the other co-chair of the Problem Solvers Caucus. It was not clear if Gary Cohn will be present at tonight's dinner, however.

The bipartisan meeting will take place at 2 p.m. in the White House Cabinet Room, according to the president's schedule.

Meanwhile, as Rasmussen reports, "despite their failure to advance President Trump’s agenda, congressional Republicans aren’t happy about his outreach to Democrats in the House and Senate, but most voters think it’s a great idea."

A new Rasmussen Reports national telephone and online survey finds that 66% of Likely U.S. Voters say it is good for the country if Trump works with congressional Democrats to advance his agenda. Just 13% think the bipartisan cooperation is bad for the country, while 21% are undecided

 

Only 19% believe the president should continue to rely on congressional Republicans to pass his agenda. That’s down from 29% in early April. Sixty-five percent (65%) now feel he should reach out more to Democrats in Congress for help versus 58% who felt that way five months ago. Sixteen percent (16%) are not sure.

 

Republicans (72%) are even more enthusiastic about the president working with congressional Democrats than Democrats (62%) and voters not affiliated with either major party (63%) are.

While the outcome of the dinner is unknown, judging by the market's reaction and the rekindling of the Trump trade, it appears that at least according to trader, Trump's pivot away from Republicans and toward democrats, where the quid-pro-quo is insurance/DACA in exchange for tax reform, suggests the probability of a successful outcome is rising by the minute.

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NugginFuts's picture

Did the Democrats win in 2016? WTF?!

Looney's picture

 

You have to vote for the tax reform, before you see what’s in it.

What could go wrong?  ;-)

Looney

Handful of Dust's picture

Get it done!

 

Screw the Repugnicans.

realmoney2015's picture

1913 gave us the Federal Reserve and the federal income tax. Just get rid of both.

JimmyJones's picture

but isn't the income tax voluntary?  Didn't the the supreme court say that the 14th amendment didn't give any new taxing authority?  /s

cheka's picture

i see dead people.  lots and lots of arab/persian dead people

what else would schumer/pelosi bargain for?

MagicHandPuppet's picture

Sitting in the same room with those reptilians, without puking, is probably the hardest part of Pres. Trump's job.

Silvery Dan's picture

I hope Bannon gets him impeached.  Not like it will get better, but fuck him.

HopefulCynical's picture

Relax. Schumer and Pelosi are a pair of clubs Trump is using to beat the political shit out of Yertle and Ryno. After the way they've fucked him around on the wall and Obamacare repeal/replace, after the way Yertle has slow-walked all of his judiciary appointments, I'm not a bit surprised.

Trump is sending a very clear message: "I WILL get some things done while I'm here, and working with the Democrats to get half a loaf is better than letting the GOPe keep the table totally barren."

Fuck Yertle. Fuck Ryno. They're both bought and paid for globalist puppets, and both happily so. So are Schumer and Pelosi, of course, but they'll work with Trump to a point, just to make it look like they're the ones in power. In the final analysis, we won't get any worse of a deal by Trump working with them than we would if he worked with the GOPe.

Realpolitik. It's still a thing, folks.

thebigunit's picture

Pretty much agrees with the analysis of financial talking head Larry Kudlow.

Schumer and the Democrat evil-doers were planning for an "armed retreat", fighting Trump all the way as they were being pushed back.  Their theory was to obstruct tax reform by running out the clock.

Trump took away a couple of roadblocks by putting Obamacare on hold and punting DACA to Congress for six months.  The only big thing for Democrats to fight about is tax reform, and Trump is ALL IN.

Kudlow suggests that Trump is NOT going to be a bystander and wait for Congress to put something on his desk; he is going to LEAD THE FIGHT!

And polls show substantial voter support of tax reform.

Trump's long term strategy is to chalk up a BIG WIN in tax reform, goose the economy, employment, and the stock market, pick up seven seats in the Senate and a few seats in the House in 2018, and then raid and pillage!

caconhma's picture

"Sitting in the same room with those reptilians, without puking, is probably the hardest part of Pres. Trump's job."

No, Trump is just among his old good friends. The fake theater is over.

realmoney2015's picture

End The Fed! 

Help spread the message of sound money:

https://m.facebook.com/scentsaverscandles

You'll find posts that show how the Fed has devalued the dollar. For example, min wage would be $15 if we kept the silver coins we used in 1965. 

The Fed has destroyed the country. In order to fix our problems, we first need to end the Fed.

JimmyJones's picture

Rank an file Republicans are starting to see that Paul and Mitch, McCain are the major obsticles to the working people finially getting some relief in their wallets.  They don't give a crap about who does it.  They want their taxes lowered and the standard deduction raised, dependant deductions raised as well as relief for child care expenses.  Plain and simple.

new game's picture

simple shit maynard...

trump just doin a deal with the devils to fuk the backstabbers.

one big lol from the ridge.

kere the echo?

Still Losing Money's picture

and how is that possible when EVERY DEM OPPOSES tax reform?

gatorengineer's picture

Every dem supports additional tax credits for the not working poor (read those not working getting bigger checks back), and breaks for the millionaires - the few folks in the middle, well not so much help.   In fact they are no different than the republicans accept on one issue, and that is corporate tax rates.  Cut the corporate rates, get back corporate centers and get back jobs... it really is that simple.

Dormouse's picture

I hope the snowflakes are going nuts right now; their leaders sitting down with a white supremacist, racist who is "literally" Hitler. Meltdown, please.

Bastiat's picture

I can't help but wonder if Trump's got the goods on these assholes (from Awan, from Weiners laptop and other sources) and rather than prosecute is twisting their tender parts.  After all they only respond to two things: bribery and extortion.

TuPhat's picture

That could be it but I think he is just going for a swim in the swamp with his buddies.

The_Juggernaut's picture

"House Problem Solvers Caucus"

lmao!

skbull44's picture

There is only the party of the oligarchs...

Buckaroo Banzai's picture

Brilliant move by Trump. If he can get solid tax cuts for middle-class Americans (who are virtually entirely white), that will solidify his support amongst the white Democrats who helped get him elected. Of course Democrat leadership will try to take credit for such tax cuts, but given that they had 8 years under Obama to get something like that done, but didn't even try, they have zero credibility on this issue.

Democrats long ago decided that their foundational strategy was to polarize the electorate along racial lines, and turn black/brown/yellow against white. Now Trump is seizing that strategy and turning it back against the Democrats. Whites are still 60% of this country, once Trump cleans out all the faggots in the Republican leadership and unifies all whites under the Republican banner, we can start putting this country back on its feet after fifty years of being ruined by pandering to black and brown voters (and illegal brown invaders) who swallow up trillions in tax dollars and give nothing back in return except crime and misery.

lasvegaspersona's picture

When you say 'white' I know you mean people who actually pay taxes...more than a few of these 'whites' have dark skin though.

Nostradumbass's picture

No, he means White. This is or was a White country and those who are not White are here by our kindness (or at least that is the way it should be but ZOG has seen to it that we are being invaded).

I have nothing against the other races ( well ,excepting (((one))) ) and in fact those who contribute productively here are a benefit. But this is our country and it needs to remain that way or it will become a shit hole like the other parts of this world are.

Buckaroo Banzai's picture

No, when I say "white", I mean, WHITE.

Black, brown, and yellow are welcome to go back where they came from. You'd think they'd be happy to, considering how much time and energy they expend complaining about white americans-- you know, the white americans who actually built this country up from nothing but untracked wilderness, after wresting it from the brutal savages who got here only a few thousand years before us.

gatorengineer's picture

In fairness there are some H1B Indians that pay taxes, but they should and if Trump kept his word be headed home.....

Himself's picture

Talked to the spouse of someone who should be in IT but is having to drive Uber due to the H1B Visa Invasion. The bobble headed imports are staffing everything in IT and are very territorial yet due crap work.

As a service business owner these imports are cheap and ignorant in the care of their homes as well. They'll try and get Molly Maid crews to do windows instead of hiring a professional window cleaner. Somewhat understandable in a 1 story rambler but a little short sighted in a 4400' McMansion. Not too bright...Mind you Molly Maids are restricted to 2' stools.

I NEVER get my bids with them.

When my father stationed in the Phillipines the military men were required to hire yard and made services to help support the local economy. Wish this occupation was working out as well for the locals...

fbazzrea's picture

imo, it's more an ideological divide than color, though it's easily understandable how one might reduce the issue to racial stereotypes. unfortunately, there are many white voters "who swallow up trillions in tax dollars and give nothing back in return except crime and misery." as well as many non-white voters who contribute fairly to the burdens of government.

shimmy's picture

You're an idiot although I do agree that trying to get the minority vote shouldn't be what people pander to.

I'm curious what you'll say when whites aren't the majority. You'll probably be whining like some of those minorities do, showing you're no better than them.

Also, there are plenty of whites who are leeches and worthless pieces of shit. Wait, let me guess...they're leeches because those evil minorities have screwed them over. Somehow. Typical snowflake mentality.

I'm also willing to bet someone like Lebron James gives back more in a typical year than you will in your lifetime. Using your logic, you're a leech and should be booted out compared to him.

 

Buckaroo Banzai's picture

You're a self-hating white faggot. Why don't you move to Africa and see how that works out, you fucking retard.

Nostradumbass's picture

Lebron James gives back more in a typical year than you will in your lifetime

LMFAO

Not to say he doesn't pay taxes. Nor to say that there isn't a lot of welfare among Whites either.

Only in clownworld does someone bouncing a ball up and down a court deserve to be showered with absurd amounts of riches and acclaim. In clownworld the stoopid citizens are mesmerized by all sorts of entertainment and woefully lacking in any serious, noble pursuits in life. Merely eating, working, sleeping their way to the end.

This would all be a moot point if we had a properly functioning Republic not under ZOG control.

While all is not yet lost, I do fear that the time is soon coming when it may be.

No Time for Fishing's picture

As long as Ryan and McConnell run Congress and the filibuster rule stays in place - YES the Democrats are in control!

arby63's picture

Trump won. The CONgress is irrelevant. Trump is trying to get something accomplished. The Repugs show no interest in progress on any front. In fact, I often wonder what they actually care about. I see nothing. 

HopefulCynical's picture

In fact, I often wonder what they actually care about.

#SorosShekels

new game's picture

just observing the repukes in inaction tells the whole story. like the mn vikings in 1999. they had it all and fuked it up(denny green). so when the repukes were the minority party under o-fuk, they were as effective as now, being a majority. fuking sikening and leads to the obvious shit maynard, one party tyranny or swamp....

fuk mitch, widow peak fuk, shit stain and almost all the rest...

lasvegaspersona's picture

Now we see if Trump can really deal. He should be able to extract actual blood from the Ds in this deal. They need it...a lot. He doesn't need DACA at all.

If he can't get major concessions from these blowhards then he is not what he seems to be (and said he was.)

Nobody For President's picture

No, the Demoncrats did not win in 2016. The Republitards did.

And that's the problem, because the Republicand are a great opposition party (more or less), but don't have a united clue as to how to lead.

So nothing gets done.

How's that ObummerCard reform/repeal do that we voted for?

How's the wall coming?

How's Drain the swamp?

If you can't drain the swamp, maybe you can work with it to get at least ONE GODDAMN THING DONE!

I'm OK with tax reform, though DACA reform/end won't happen.

The fucking Republicans have sabotaged Trump  at every turn, so he has decided to get some damn thing done DESPITE 'his' republican majority.

 

VWAndy's picture

 A Pizza party?

Bill of Rights's picture

With the criminal element in Washington taking in nearly $2 trillion a month in income tax receipts and various other taxes the tax cut is a welcome addition.

Salsa Verde's picture

I do believe that any questions people may have had about Trump's view of the US fiscal policy and deficit; just got answered.

Bill of Rights's picture

Fiscal Policy? surly you jest...its a charade.

arby63's picture

That's for sure. There is no policy. In fact, is it too late for policy? Perhaps it's more philosophy than policy: We will all be dead before the SHTF so let's spend. 

JimmyJones's picture

Teach your children how to hunt, shoot and grow food.  They or thier kids will need it.

corporatewhore's picture

It's a mathematically impossible job to try to turn this ship around.  Just a question of when it all goes full tilt.

Cardinal Fang's picture

As a C level executive I was consulting to about operational issues said 'Yes, at some point it is a math problem'

If you really want to know how things work at the level of TPTB, read and study rolling wave planning. Know it, believe it, love it.

Well, at least understand the enemy...

https://en.m.wikipedia.org/wiki/Rolling_Wave_planning