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A possible fix for the Senate GOP tax bill could lead to a fight with Trump over his 'red line' on tax cuts

8 monthes ago   |   By

Treasury Secretary Steven Mnuchin said Monday President Donald Trump would not bend on his desire for a 20% corporate tax rate.
GOP Sen. Susan Collins said Monday, however, that a corporate rate above 20% is on the table.
Analysts say that a slightly more modest cut would help the tax bill pass, but it would also anger the president.
On Monday, Treasury Secretary Steven Mnuchin said President Donald Trump has determined one piece of the GOP tax bill is non-negotiable: the 20% corporate tax rate.
"It's not going up," Mnuchin said at The Wall Street Journal CEO Council. "I can tell you this...
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A Republican senator finally admitted what's needed to fix the tax bill - and Trump won't like it

A Republican senator finally admitted what's needed to fix the tax bill - and Trump won't like it

8 monthes ago   |   By

Alex Wong/Getty Images
Sen. Susan Collins is proposing to shrink GOP tax cuts for the rich and for corporations.
She would offer larger tax breaks to middle-income families.
Tax cuts are limited to a $1.5 trillion deficit increase over 10 years; any new tax cuts in the bill have to be offset with tax increases to hit that target.
A key fact about tax reform is that it has to fit inside a box.
Republicans in Congress passed a budget resolution that says the tax bill can't grow the deficit by more than $1.5 trillion over a decade. This isn't just a goal - it's legally binding. The...
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