The White House said President Donald trump would deliver a speech that focuses on his vision for job creation and economic growth and development on Wednesday in Springfield, Missouri. The Tax overhaul effort seeks to revise the tax code and cut tax rates. Congress is expected to work on the bill.
Mounting Pressure to deliver
Considering the fact Trump has not had any significant legislative achievements, Republican leaders and the White House are under pressure leading up to the midterm elections in 2018.
However, the tax push is coming at a time when Congress is confronted with a massive workload in September. Congress is mandated to act by the end of September to fund the government and also raise the debt limit. Lawmakers are also expected to pass emergency spending to cushion the devastating effects of Hurricane Harvey.
Following the failure to deliver on the seven-year pledge to repeal and replace the Obama health care law, known as Obamacare, Many Republicans feel they need to deliver on taxes or face a major blow in 2018 midterm elections. Voters could try to take away their full control of the White House and Congress if they fail to show something for their complete control of both chambers of Congress.
Moves to rewrite tax code
The Republican President is kicking off his effort on tax reforms in Springfield, which is regarded as the birthplace of the famous Route 66 highway, also known as America’s Main Street. The primary challenge is to propose tax reform that could include tax cuts for firms and high-income earners. Administration officials say Trump may argue that reducing business taxes will profit many American corporations as well as millions of workers.
The White House said the President’s entourage would include Commerce Secretary Wilbur Ross, Treasury Secretary Steven Mnuchin, Small Business Administrator Linda McMahon and director of the National Economic Council Gary Cohn. Also expected to be in attendance are local business operators and elected Missouri officials, including Governor Eric Greitens, Senator Roy Blunt among others.
Congress will need to work with the White House to streamline their priorities and focus on reviewing the tax code. This is something that they have failed to do in previous legislations. If President Trump chooses to continue with his quarrel with legislatures like the case of McConnell, that could harm his effort to rewrite the tax code.