Ryan, Trump advisers meet on tax reform

Ryan, Trump advisers meet on tax reform
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Speaker Paul RyanPaul RyanOvernight Regulation: Senators call for 'cost-effective' regs | FCC chief unveils plans to roll back net neutrality Overnight Tech: FCC chief unveils plan for net neutrality rollback | Tech on Trump's sweeping tax plan | Cruz looks to boost space industry Not too shabby: Trump tax plan nails corporate rate, errs on income MORE (R-Wis.) and representatives for President-elect Donald TrumpDonald TrumpFox poll: Trump approval below 50 percent Pelosi gives Trump an incomplete for first 100 days Poll: More say Trump will increase their taxes MORE met Monday night to discuss tax reform, a major priority for the new Congress and incoming administration.

During the meeting, Ryan and his policy staff were scheduled to walk through the tax-reform blueprint that House Republicans released in June, according to a senior GOP aide.

The Trump aides participating in the meeting included Reince Priebus, the incoming White House chief of staff, and Stephen Bannon, who has been named Trump's chief strategist, as first reported by The Washington Post

Also present were Treasury Secretary nominee Steve Mnuchin, Jared Kushner, and Rick Dearborn.
Ryan and his staff and the Trump advisers met for about two and a half hours and ate Italian food during the meeting. 
 
Following the meeting, the participants gave few clues about what was discussed. A Politico reporter said Priebus called the meeting "very productive," though no further details were forthcoming. 
 
CNN's Deirdre Walsh reported that Bannon, when asked about a timeline for an Obamacare repeal, said they're "still thinking that through."
 

 

 

 

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The House Republican blueprint would lower tax rates for individuals and businesses, eliminate some existing tax preferences and revamp the IRS. It would also move the corporate tax system toward a consumption-based system.

The House Ways and Means Committee is taking the lead on drafting tax reform legislation based on the blueprint.

The tax plan Trump released in September has some similarities to the House Republicans' plan, as well as some differences. The two plans have the same tax rates for individuals, but Trump's would lower the corporate tax rate to 15 percent, while the House GOP plan would lower it to 20 percent.

Updated 10:24 p.m