Following up on the economic growth spurred by their first tax reform package, President Donald Trump and House Republicans want to see another round.
“We are going to start a meeting on tax reduction, and we are going to be putting in a bill,” Trump said Tuesday in the Cabinet Room of the White House, just before a meeting with House Republicans.
House Ways and Means Committee Chairman Kevin Brady, R-Texas, talked about making the individual income tax cuts permanent.
“Today is about how we can strengthen America’s economy even more,” Brady said as the meeting began. “We think the best place to start is with America’s middle-class families and our small businesses.”
Late last year, congressional Republicans passed the Tax Cuts and Jobs Act, which reduced individual rates and corporate rates. For what some Republicans call Tax Reform 2.0, Brady said the House will vote on a new package in September and he expects the Senate to schedule a vote.
“So, today we are here to talk to you about making permanent the tax relief,” Brady said to the president. “One, so [the economy] can continue to grow.”
He also said a future Congress and president could seek to reverse the pro-growth tax cuts.
“Two, so we can add a million and a half new jobs,” he said. “And three, we can protect them against a future Washington trying to steal back those hard-earned dollars that you and a Republican Congress has given them.”
Joining Brady in the meeting with Trump were Reps. Mike Bishop, R-Mich.; Diane Black, R-Tenn.; George Holding, R-N.C.; Jim Renacci, R-Ohio; Peter Roskam, R-Ill.; and Erik Paulsen, R-Minn.
Also in the meeting were Vice President Mike Pence, Treasury Secretary Steve Mnuchin, White House chief of staff John Kelly, national security adviser John Bolton, and the president’s older daughter and aide, Ivanka Trump.
Trump kicked off the meeting clarifying some of his remarks Monday during a joint press conference with Russian President Vladimir Putin.