Trump pledges 'huge tax cut' as a Christmas gift to America
US President Donald Trump yesterday promised a tax overhaul by Christmas, a day after the White House signalled its willingness to strike a health care provision from Senate tax legislation if it's an impediment to passing the tax bill.
Before a cabinet meeting, Mr Trump said: "We're going to give the American people a huge tax cut for Christmas - hopefully that will be a great big, beautiful Christmas present."
At issue is a provision that would repeal a requirement that Americans have health insurance or pay a fine. The provision is not in the version of the tax overhaul passed last week by the House. It is in the bill the Senate Finance Committee has approved.
Repealing a central mandate of the Obama health law has emerged as a major sticking point for Republican Senator Susan Collins of Maine, whose vote the White House needs.
Striking the health care provision would blow a big hole in the senators' tax cut plan, leaving them $338bn short of their revenue goal over the next 10 years.