Cruz, Sanders to debate Trump's tax reform plan next week

Cruz, Sanders to debate Trump's tax reform plan next week
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Sens. Ted CruzRafael (Ted) Edward CruzCruz: 'I'm glad' Disney fired James Gunn over 'horrible' tweets Washington needs to end hidden inflation tax on our capital gains GOP tax writer introduces bill to reduce capital gains taxes MORE (R-Texas) and Bernie SandersBernard (Bernie) SandersBernie Sanders mocks Trump: ‘He could change his mind tomorrow’ Sunday shows preview: Questions linger over Trump-Putin summit Bernie Sanders: Trump 'so tough' on child separations but not on Putin MORE (I-Vt.) are scheduled to go head-to-head in a televised town hall next week to debate whether President Trump's proposed tax reform plan will be good or bad for the country.

Cruz and Sanders, who both ran for president in 2016, argue how best to tackle the issue from largely the opposite sides of the political spectrum.

"Let's simplify the tax code. Let's let everyone fill out their taxes on a postcard. We spend about 9 billion hours a year wasting time with the IRS. The world would be much, much simpler if you and I and everyone else just filled out a post card," Cruz told CNN in a September interview.

Trump and GOP lawmakers released a framework in late September that they say will provide tax relief for the middle class and make American businesses more competitive.

Sanders and Democrats have slammed the plan, with Sanders calling it "morally repugnant and bad economic policy" that would exacerbate income inequality. 

The framework would largely cut taxes on businesses, slash the top tax rate for the wealthy and get rid of many itemized deductions.

The push to tackle tax reform comes at a time when the president is looking for his first significant legislative victory and as the GOP tries to brush off its failure to pass a health-care bill that repeals and replaces ObamaCare. 

A top GOP lawmaker on the House Ways and Means Committee indicated Wednesday that he expects a tax-reform bill to be released not long after Congress adopts a budget resolution.

CNN's "The Lead" anchor Jake Tapper and chief political correspondent Dana Bash will moderate the event on Oct. 18., which will also include questions from voters across the U.S.