As Republicans near an impending deadline for approving tax reform legislation, questions are emerging over whether Congress can truly restructure in the system or whether the reform will merely cut taxes.
That push to pass both tax cuts -- reducing rates for everyone, usually by lowering income taxes -- and tax reform -- restructuring the entire system -- could ultimately hurt the Trump administration, Turning Point USA Founder Charlie Kirk told FOX Business’ Neil Cavuto.
“They are two different things that they’re trying to put together,” he said on ‘Cavuto: Coast to Coast.’. “It’s very dangerous.”
On Twitter, President Donald Trump lauded the need to pass tax reform after the devastating Hurricanes Harvey and Irma struck the U.S and said the approval process would soon be underway.
“The approval process for the biggest Tax Cut & Tax Reform package in the history of our country will soon begin,” Trump wrote on Twitter. “Move fast Congress!”
Speaker of the House Paul Ryan (R-Wis.) said on Wednesday the framework for tax reform would be released the week of Sept. 25.
The pressure for Republicans to pass meaningful legislation is high after they failed to deliver on a seven-year promise to overhaul the Affordable Care Act.