Paul Ryan Says Trump Tax Plan Inline with GOP

President Donald Trump and the Republican Congress tripped up in their first major legislative effort together, a failed bill to replace the Affordable Care Act.

House Speaker Paul Ryan aimed to show on Wednesday that the two branches will be unified on tax reform. Ryan said he does not think Trump is overstepping by releasing a tax proposal Wednesday, adding that Congress and the White House are working to reach consensus on a plan.

“Basically, [the White House plan] is along the same lines we want to go,” Ryan told reporters at a news conference with House GOP leaders.

Treasury Secretary Steven Mnuchin confirmed earlier Wednesday that the tax plan the Trump administration will outline Wednesday afternoon will call for a 15 percent corporate rate.

Earlier Wednesday, Reuters reported that Ryan saw a preview of the plan and said the House is in “80 percent agreement.”

Mnuchin said the White House wants a “combined plan” with the House and Senate, which could potentially clash with the administration over some provisions.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza