Transcripts For CSPAN Interview Anna Edgerton 2018 Budget T

Transcripts For CSPAN Interview Anna Edgerton 2018 Budget Tax Reform 20171026

They dont have to reconcile the differences between the house and Senate Version. Since Speaker Paul Ryan is concentrated on getting this done by the end of the year, skipping those steps, voting on the Senate Version allows them to the process by two or three weeks. Doing this budget debate sets up the framework for tax reform. State and local taxes, also in particular about increasing the deficit. Is g. O. P leadership doing to address those concerns . And ensuring that the bill asses this week . Thats what House Republicans are going on. They are trusting leadership. Trusting the ways and means to produce the bill and it reflects that framework. There is still plenty to be worked out. State and local tax reduction. State have high local taxes will e able to reduce that. Whatever compromise can be worked out with lawmakers that are concerned. That would be lawmakers from new jersey and new york, california, those kind of states. And there are other provisions as well such as the treatment of 401 ks. The president weighed in on earlier in a tweet. How deal with interest deductibility. We will hopefully see the details of next week. You wrote that leaders have laid out an ambitious schedule for writing that tax reform proposal. What can you tell us when they want to get that done . Once they do that, they will announce the official date that they will release the text of the tax bill. Were expecting that next week, maybe november 1. The chairman of the ways and Means Committee has been fairly out front about changes in the tax system in the u. S. Speaking at a number of vocations. What have you heard from the chairman of the ways and means or orrin hatch aboutseparate products are shaping how their up. On bradys sides in the house everything they say is focussed on really getting the economy growing fast. So they want to get to at least 3 Economic Growth and work in provisions that would encourage companies to hire more workers, invest in growing companies and Keep Companies here in the United States rather than going abroad. So thats things like the capitol expensing that would encourage companies to buy a new machine or something for their factory. On the senate side they agree with the main principals that we saw in the framework but the Senate Finance Committee Chairman orrin hatch has been very firm he will write his own bill. His committee will have their own version of the legislation and then we expect those differences to be reconciled after each chamber votes on their versions then to go into probably a conferencernserence committee in december. After that President Trump tweet on the possible changes, kevin brady speaking to the Christian Science monitor and your headline reflecting that. Brady signals retirement changes are still on the tax writers table. What are we talking about specifically here . That would be the tax treatment of retirement money and how much americans are allowed to put away towards their retirement before that income is taxed. And so what brady said in an event earlier this week is he would like to encourage americans to save more and earlier in their incomes because typically workers are at a lower tax bracket early in their incomes. So thats less of their wage that would be taxed as opposed to if they with drew at the end of their careers when theyre at a higher tax bracket. The president said there will be no changes to 401 ks and the way that is structured. But brady left room to be changes. Theyre still looking for ways to pay for the tax bill. Why is tax reform such a priority for the republican member of congress and the president . Weve seen the stock market rise and lot of that was on the expectation that republicans in control of all labors of gufrmnt would be able to pass a tax code that favors business, get the economy growing. And so now theyre under a lot of pressure to really deliver on that. The other element is that they failed pretty spectacularly to repeal and replace obamacare. The house did manage to pass their version but it was a version very unpalatable to the senate and ultimately unable to get through. But in terms of their Campaign Promises theyve been talking about, tax reform is the main legislative effort they need to kbet through this year to have something to show for themselves in the midterm elections next year. Anna covers congress for bloomberg news. You can read her reporting at bloomberg. Com. She is also on twitter. Thanks so much for the update. Spans wourge live washington journal live every day. Coming up this morning, Kentucky Republican congressman carol rogers discusses president sard on opiate views and hurricane Recovery Efforts in puerto rico and the latest on democratic efforts to save dhaka. Daka. Skst Lieutenant Governor collier giving his view on the states medicaid program. Be sure to watch cspans washington journal live at 7 00 eastern this morning. Join the discussion. We are in our 22nd year of the texas book festival. Was founded in 1995 by then First Lady Laura Bush and a Pretty Amazing group of dedicated volunteers who decided we just needed to have a book festival in austin, texas, to authors as awe and literacy. Since those early years, it has just exploded and very quickly became a National Premiere destination for the biggest books of the year. Join book tv for the texas book festival live from austin saturday and sunday november 4 and 5 on cspan 2. Now d. C. S Circuit Court judge brett cav now spoke about the judiciarys role of maintaining the constitutional separation of powers. This is an hour

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