Your screen. We want to get your reaction to the white house proposal. With president in trumps Economic Council director, gary cohen, in the Briefing Room yesterday on what this means for individuals. [video clip] taxes andgoing to cut signify the tax for by taking the current seven tax brackets we have today and reducing them to only three brackets. A 10 bracket, a 25 bracket, and a 35 bracket. We are going to double the standard eduction so that a married couple wont pay any taxes on the first 24,000 of income they earn. So, in essence we are creating a zero tax rate for the first 24,000 that a couple earns. The larger standard deduction needs to simplification, because far fewer taxpayers will need to itemize. Was the top economic adviser for the president yesterday outlining what it means for individuals. Of worse, there is the business side of this as well. We want to know your thoughts this morning. Start tiling and so we can get your phone calls. Return to let washington know w
This is 3. 5 hours. The committee will come to order. Welcome to the ways and Means Committee hearing on increasing u. S. Competitiveness and preventing american jobs from moving overseas. Before we get started, i want to take a moment to speak about the evil terror attack that occurred last night in the united kingdom. Our deepest condolences go out to the victims, to their families and their loved ones. Please know that you are in our prayers. Today, were continuing our work on pro growth tax row form that will improve lives all americans. This mornings hearing is strengthening americans pro competitiveness and preventing jobs from moving overseas. For years americans have watched as our manufacturing plants, middle class jobs and longstanding u. S. Companies have moved overseas devastating communities and the families that depend upon them. Hundreds of thousands of goodpaying american jobs have left and continued to leave to china, mexico, ireland, and other foreign countries. Some
This is 3. 5 hours. The committee will come to order. Welcome to the ways and Means Committee hearing on increasing u. S. Competitiveness and preventing american jobs from moving overseas. Before we get started, i want to take a moment to speak about the evil terror attack that occurred last night in the united kingdom. Our deepest condolences go out to the victims, to their families and their loved ones. Please know that you are in our prayers. Today, were continuing our work on pro growth tax row form that will improve lives all americans. This mornings hearing is strengthening americans pro competitiveness and preventing jobs from moving overseas. For years americans have watched as our manufacturing plants, middle class jobs and longstanding u. S. Companies have moved overseas devastating communities and the families that depend upon them. Hundreds of thousands of goodpaying american jobs have left and continued to leave to china, mexico, ireland, and other foreign countries. Some
The trump administrations efforts to overhaul the tax code. This is 3. 5 hours. The committee will come to order. Welcome to the ways and Means Committee hearing on increasing u. S. Competitiveness and preventing american jobs from moving overseas. Before we get started, i want to take a moment to speak about the evil terror attack that occurred last night in the united kingdom. Our deepest condolences go out to the victims, to their families and their loved ones. Please know that you are in our prayers. Today, were continuing our work on pro growth tax row form that will improve lives all americans. This mornings hearing is strengthening americans pro competitiveness and preventing jobs from moving overseas. For years americans have watched as our manufacturing plants, middle class jobs and longstanding u. S. Companies have moved overseas devastating communities and the families that depend upon them. Hundreds of thousands of goodpaying american jobs have left and continued to leave t
Im sure the significance of this position at this crucial time is not lost on you. Its not lost on any member of the committee. Its a major focus of the committee for some time now and we agreed to have you here to discuss your thoughts on these matters. On a number of occasions i stated the president ial leadership would be a key component to any successful tax reform effort. Just last week i quoted president obama at a speech on the senate floor back in 2012 he said things like the current Corporate Tax system is outdated, unfair and inefficient. The problem was he never got around to leading out of the tax reform and i expect more on tax reform. That expectation comes in large part because of knowing him and the way that he approaches these things are the. I have to say also because he and secretary have been talking about it so much thats more than that theyve engaged with congress and the public on these issues and i believe your nomination is another way the president has further