After Speaker Paul Ryan made a colossal mess of the Obamacare repeal, President Trump has opted to cut him loose from the upcoming tax reform proposal. Can you blame him?
The day after Paul Ryan FAILED to pass the health care bill, he had the audacity to tell the press Trumps tax reform would NOW be difficult to accomplish.
Gee, Paul, sabotage much?
From Breitbart
Politico reported Thursday that President Donald Trump, chastened by his experience pushing for the failed Ryancare bill, is moving forward on tax reform with is own economic team in the leadnot Speaker Paul Ryan (R-WI):
Just on Thursday, President Donald Trump huddled with Treasury Secretary Steven Mnuchin, National Economic Council Director Gary Cohn, senior strategist Steve Bannon, son-in-law and consigliere Jared Kushner and staffers from the National Economic Council and Treasury to delve into the various policy trade-offs and ways to structure a plan.
The key takeaway: The White House is not outsourcing these details to anyone, including the speaker of the House.
The report said White House press secretary Sean Spicer confirmed this new dynamic at Fridays news briefing: The president will put out principles, Im sure, in terms of what his goals are and drive this as the process moves forward.
A 14-page paper, obtained by Politico and developed during the presidential transition, is the central blueprint for the presidents tax reform programand it would push Ryans own Border Adjustment Tax off the table.
The president is expected to propose cutting the corporate tax rate to 15 percent combined with a wiping out of the tax codes catalog of tax loopholes and deductions Congress created to ameliorate the 35 percent rate for business profits. Another part of the plan is to simply the individual tax rates, again by lowering the rates and removing specialized deductions.
Trumps corporate and individual tax reforms are significant, but no way near the revolutionary changes contained in Ryans Border Adjustment Tax, which shifts $1 trillion in annual tax burden onto exported goods and exporters. That fight has already been going on behind the scenes, as domestic manufacturers and retailers line up allies and resources as they contest for who will be on the hook for one- third of the federal governments annual revenues.
Now that things have settled, it appears that instead of a setback for the president, the failure of the speakers health care legislation was really Trumps liberation.
During the 2016 presidential cycle, Ryan created The Better Way agenda as a parallel campaign platform, so that he and his allies could campaign for themselves without mentioning the presidents name nor offer him support.
Now, Trump has found his own better way.