White House speaks on tax plan expected next month
WASHINGTON White House tax negotiators and congressional leaders are still planning to release a document in September outlining agreed-upon principles that will serve as a framework for a tax bill, according to a White House official.
The document is expected to expand on a two-page press release last month from the so-called Big Six involved in tax discussions, said the official, who asked not to be named because negotiations are private. It was unclear after that press release was issued if there would be additional details forthcoming before tax writers started drafting legislative text. National Economic Council Director Gary Cohn, a member of the Big Six, had previously said a tax framework would be released after Labor Day.
Rep. Kevin Brady, chairman of the tax-writing House Ways and Means Committee, said during an interview Friday on Bloomberg TV that House and Senate tax writers were continuing to work on the details of a revamp over the August recess.
"We are on schedule to move this to the president's desk this year," said Brady, R-Texas. "It is an aggressive timetable, no question about that."
Trump administration officials have said they're committed to a permanent tax overhaul, and the plan is to start hearings and a markup of a tax bill after Labor Day so a version can get through the House in October and the Senate in November. President Donald Trump and Senate Majority Leader Mitch McConnell of Kentucky have sparred in recent days over the amount of time needed to pass complicated legislation, such as repealing and replacing Obamacare.