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July 7 — Donald Trump’s tax staff has reacted positively to the House Republican tax blueprint, according to House Ways and Means Committee Chairman Kevin Brady (R-Texas).
Brady attended Trump's meeting with House Republicans early July 7, but didn’t pitch the proposal to the presumptive Republican presidential candidate.
Still, staff-level talks have proven productive to date.
“My impression is they loved it,” Brady told reporters. “They loved the direction we're going on growth and on simplicity and accountability.”
Full expensing for businesses offers the best economic boost in the plan, he said during an event hosted by the Taxpayers Protection Alliance. Reducing the number of individual tax brackets would make filing taxes easier and restructuring the Internal Revenue Service would improve taxpayers' experiences with the agency, Brady said of other components in the blueprint (129 DTR G-3, 7/6/16).
The plan was released late last month (123 DTR G-6, 6/27/16).
House Republicans had many questions for Trump during their time together but the blueprint wasn't discussed, Brady said. Trump also met with Senate Republicans later in the morning.
“We've been busy with his tax experts here for quite a while, and there is a lot of common ground,” Brady said.
Trump's tax proposals would reduce tax revenue by $10.1 trillion over a decade, according to a dynamic score from the Tax Foundation, the same group that calculated a $191 billion dynamic estimate for the House Republican blueprint.
The Trump plan would lower all business income taxes to 15 percent, while House Republicans would reduce the corporate tax rate to 20 percent and the tax rate on passthrough businesses to 25 percent. The top individual rate would drop from 39.6 percent under the blueprint and 25 percent under Trump's plan.
Brady said he recognized differences between the two, including revenue impacts, but said both sides would continue to make their plans better.
“Having a tax blueprint that is revenue neutral in dynamic scoring, we're going to achieve that goal,” he said.
Brady has said he would support the Republican Party's presidential nominee without directly backing Trump by name.
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