Watch Live: President Trump Discusses GOP Tax-Reform Deal

In what's to be a hastily organized press conference, the White House announced Wednesday that President Trump would speak about the Republican tax-reform effort at 3 p.m. Wednesday. The implication is that Trump will be laying out next steps now that GOP lawmakers have tentatively agreed on a compromise tax bill that both chambers of Congress are ready to send to the president's desk.

However, as we've learned, in the Trump era, no legislative achievement is in the bag until all the votes have been tallied.

As was the case with yesterday's tax deal, the "deal" reported today would reduce the top individual tax rate to 37% and set the corporate tax rate at 21%, slightly higher than the 20% initially favored by President Trump. The mortgage interest deduction would be capped at $750,000, a mid-point compromise between the Senate and House bills.

The deduction for pass-through companies will be set at 20 percent, somewhat lower than the 23 percent included in the Senate-passed bill. That will be offset by lowering the top individual income rate to 37%. It is now 39.6%.

Though Republicans in both the House and Senate who had reservations about the bill are still making their views known, Mark Meadows, the leader of the House Freedom Caucus, recently said he's given the agreement his blessing, and it's beginning to look like Republicans have actually finally come to a consensus of sorts - though stocks have rolled over following a morning-trade bump.

While he's already tweeted about Roy Moore's loss (both to congratulate the winner and to attempt to vindicate himself for supporting Moore), it's likely he'll be asked about the outcome of last night's special election...

...As for whether he'll feel like talking: We'll need to find out.

Comments

Dratpmurt Wed, 12/13/2017 - 15:04 Permalink

Who wants to listen to this loser talk about giving himself a billion dollar tax cut. He should just commit himself to a mental hospital and save us all the trouble.

Bes The_Juggernaut Wed, 12/13/2017 - 15:27 Permalink

Watch Trump Explain How More Giveaways To Oligarchs and Millionaries Is Good For Main Streetthere fixed it for you--------and this is just after giving the MIC its biggest budget everand ensuring more MENA Zionist wars--------can someone explain exactly how this clown is against the deep state? he's a deep state wet dreamfucking pathetic

In reply to by The_Juggernaut

Escrava Isaura Bes Wed, 12/13/2017 - 15:47 Permalink

The conservatives need to say no to this tax cuts now because the conservatives will be the biggest losers starting four years from now. Not holding my breath, though. Conservatives are too freaking stupid and stubborn when talking about money. They can’t grasp its basic concept. Second, get this over your head, the deep state is not going anywhere. It can’t.    

In reply to by Bes

shamus001 Bes Wed, 12/13/2017 - 16:50 Permalink

I'm not rich, so I'm not certain "how sweet of a deal" they are getting.  However I am a small business owner and as a simple middle classman earning approx 100k my tax bracket IS LOWER.  Also, I have perceived the lower class getting a nice exemption increase, which SERIOUSLY will help young adults who are working minimum wage while going through school (or just working the minimum)- extra fiat bonus for those poor folks pumping out kids (yay) so other than hoping all of these breaks stimulate business to a greater extent than the instant tax gradification lost....Who is exactly getting screwed?  Perhapse a middle class laborer? (no sarc, serious) so I percieve that a small window of laborers are NOT getting BETTER tax relief, but EVERYONE ELSE will. It just seems you have to be an Antifa Trump Hater to continuously spew out negative crap about this tax change.  I've been paying 25-30k in taxes a year for 15 years, and it appears I'm going to be paying 5% less. 

In reply to by Bes

BullyBearish Bill of Rights Wed, 12/13/2017 - 17:39 Permalink

if you STILL support trump, you are a:* paid hasbara hag troll                -zionist who loves israhell better than the USA* person easily manipulated with NO critical thinking ability                -brain-dead adopter of the left vs right scam                -20-hour a day fox news watcher                -racist                -person unable to get past obummer/clitons                -willing to continue endless wars and debt that diminishes                 your own life

In reply to by Bill of Rights

Cautiously Pes… Wed, 12/13/2017 - 15:05 Permalink

“But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.”  Frederic Bastiat, The Law

Escrava Isaura roadhazard Wed, 12/13/2017 - 16:02 Permalink

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Tax cut is voodoo economics. Bush gave a huge tax cut to spur growth while telling everyone that it would pay for itself. Bush was responsible to the biggest deficit ever: $1.4 trillion dollars in 2009.  

In reply to by roadhazard

rp2016 Wed, 12/13/2017 - 15:08 Permalink

Yes, President Trump... I made a mistake... I thought you are the man. and my lips are tied ... America deservs better. This kind of innovation does not behoove America. This is not waht America is. Won't let this happen.

wmbz Wed, 12/13/2017 - 15:08 Permalink

Tax cuts...Riiight. Even if some tiny ass tax cuts did trickle down the leg of the Fed gubmint to the working class serfs .Our wonderful state and local worthless bastards will be sure and increase them.

Pollygotacracker Wed, 12/13/2017 - 15:09 Permalink

The wealthy have no problem passing legislation to give themselves a tax cut. Remember when it was all about the job creators? Where are the job? God only knows. More for those who really don't need it. Trump ran on ending the 15% tax rate for billionaire hedge fund mangers. He didn't follow through on that promise. Give me a pill. I can't take it anymore.

Deep Snorkeler Wed, 12/13/2017 - 15:10 Permalink

Tangerine TrumpCan you name a president four foot wide,smells like steak and speeds in a golf cart at 65?What he has left is not much of a mind,our president, a quarter ton of American pride.He endorses pervs and loves a Fox routine,he's a socialist squashing, Mac eating, golfing machine. 

kudocast Wed, 12/13/2017 - 15:20 Permalink

"A president who would all but call Sen. Kirsten Gillibrand a whore is not fit to clean the toilets in the Barack Obama Presidential Library or to shine the shoes of George W. Bush," the authors wrote.

falak pema Wed, 12/13/2017 - 15:22 Permalink

You can visibly see his "big hands" shrinking in front of his #Maga hype, in the wake of Alabama and "you name it" debacle.A man who stoops to "cunt bashing" deserves to be flushed down the shute.