The issue we historically held with Mick ‘Cantalopes’ Mulvaney, was his direct association with Speaker Ryan when it comes to tax/budget plans. Thankfully, so far, Mulvaney has outperformed expectations and our fears have not been seen in Trump policy. We are cautiously optimistic.
One AP article disingenuously previously reported the White House was moving away from the initial campaign tax reform proposal. That outline was pure gas-lighting. The central issue of tax plan disparity centers around import tax tariffs and various alternative proposals.
House Speaker Paul Ryan is all-in with his “Border Adjustment Tax”, it is part of his larger ‘Better Way’ tax agenda. Apparently, according to The Hill, Mulvaney is not in alignment with Ryan. Good. The bottom line is Ryan’s plan is Tom Donohue’s plan. Ryan’s “Better Way” is the construct of the U.S. Chamber of Commerce.
President Trump is not in line with the complex Border Adjustment Tax nonsense. We’ll have to wait and see how this shakes out in the weeks ahead.
THE HILL – The White House is signaling an interest in moving the tax-reform debate in a different direction.
A House tax reform blueprint, released last year as part of Speaker Paul Ryan’s (R-Wis.) “Better Way” agenda, had long been viewed as the starting point for tax reform. During the campaign, President Trump’s tax plan was revised to more closely resemble it.
But the Trump administration is now drafting a new proposal, with officials considering a range of policy options beyond what Republicans in Congress have put forward.
Office of Management and Budget Director Mick Mulvaney told CNBC in a video posted Wednesday that “it’s too early to say” if the White House’s plan would resemble the House’s blueprint. But he suggested the administration wouldn’t hesitate to go its own way.
“The House can go and do what they want to do,” Mulvaney said. “We are going to formulate our own policies.”
The White House made clear after last month’s collapse of an ObamaCare repeal bill that it intends to take more of a leading role on tax reform.
In the last several weeks, Trump and members of his economic team have been meeting with lawmakers, businesses and industry groups to get their input. (read more)