Sunday 21 January 2018

Trump poised to announce tax cuts

US President Donald Trump Photo: AP
US President Donald Trump Photo: AP

Nick Allen

US president Donald Trump has promised a "massive tax cut" of historic proportions under a reform package he plans to unveil within days.

Mr Trump tweeted that it would be "bigger, I believe, than any tax cut ever" for both individuals and businesses. The timing is just before his 100th day in office.

The news came as a surprise to some members of his own administration who had been looking at a longer timeline for tax reform, one of his key campaign pledges.

White House officials played down suggestions that there would be a detailed plan, indicating it would instead be a broad outline of priorities.

The apparent acceleration of the process was welcomed by Republicans in Congress who praised his "leadership and strong commitment to comprehensive tax reform".

However, Trump will face a long battle over differing vested interests in Congress, as well as the prospect of a government shutdown if Congress fails to pass a funding bill by midnight on Friday.

The tax announcement will also come in the week Trump is pushing Republicans in Congress to make another attempt to repeal Obamacare.

The first attempt failed last month but some officials believe a second attempt could lead to a significant legislative achievement before the administration reaches the 100-day landmark.

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