Page 2 - ARUBA TODAY

A2 UP FRONT
Wednesday 1 november 2017
Trump predicts passage of tax plan by Christmas

By KEN THOMAS for a significant legislative ject them to being taxed to deduct local property some differences amongst
CATHERINE LUCEY achievement after being twice. taxes on their federal re- the business community on
Associated Press stymied in their attempts One day before the plan turns but the deduction for what should be the take-
WASHINGTON (AP) — One to repeal the Obama-era was to be unveiled, legis- state income taxes would aways and the adds.”
day before the big reveal, “I think your planning is re-
President Donald Trump ally quite good: You’re off
intensified his lobbying to Asia and everybody else
Tuesday for a tax overhaul gets it worked out,” Dono-
plan whose shape was still hue said to laughter.
under negotiation by con- GOP tax writers are con-
gressional Republicans. sidering phasing in the
The president predicted a planned cut in the corpo-
grand signing ceremony rate tax rate, from 35 per-
before Christmas at “the cent currently to 20 per-
biggest tax event in the his- cent by 2022. The White
tory of our country.” House rebuffed that sug-
“The process is complicat- gestion on Monday, and
ed but the end result will Trump reiterated his op-
not be that complicated. position on Tuesday. And
It’s going to be: People are a battle continues over
going to pay less tax by contributions to 401(k) re-
a lot, companies are go- tirements accounts. The fi-
ing to pay less tax by a lot nancial industry and some
— that’s a big difference Republican lawmakers in-
— and companies are sist that the GOP plan not
going to start rebuilding change the tax benefits
and they’re going to stay of the popular savings ve-
here,” Trump said in the Treasury Secretary Steve Mnuchin listens as President Donald Trump speaks during a meeting on hicles, as has been floated
Roosevelt Room, where he tax policy with business leaders in the Roosevelt Room of the White House, Tuesday, Oct. 31, 2017, by GOP leaders.
was joined by the heads of in Washington. The current Republican
more than a dozen busi- (AP Photo/Evan Vucci) plan calls for nearly dou-
ness and trade allies. bling the standard deduc-
Trump said he’s directing health care law. Enacting lators still were engaged be repealed. The change tion used by most average
Treasury Secretary Steve a tax package is seen as in high-stakes negotiations means there would be Americans to $12,000 for
Mnuchin, White House critical to helping Republi- over what deductions will three itemized deductions individuals and $24,000 for
economic adviser Gary cans maintain their majori- stay and what will go. retained: for home mort- families, and increasing
Cohn and other adminis- ties in the 2018 elections. The head of the House tax- gage interest, charitable the per-child tax credit.
tration officials to stay be- The president said he was writing committee, Rep. donations and local prop- In addition to slashing the
hind when he heads for hopeful the House will ap- Kevin Brady of Texas, hint- erty taxes. corporate tax rate, it also
Asia on Friday so they can prove the tax bill by Thanks- ed at the ongoing fluidity, The National Association seeks to repeal inheritance
help sell the tax proposal. giving and that he can sign telling reporters, “There’s of Home Builders, mean- taxes on multimillion-dollar
The White House said Ivan- it into law by Christmas. But going to be a lot of spec- while, has withdrawn its estates, a big break for
ka Trump, the president’s his overly optimistic timeta- ulation on different issues support for the plan be- the wealthy.The number of
daughter and adviser, ble didn’t address the con- and different areas. Stay cause it does not believe it tax brackets would shrink
had canceled plans to ac- cerns of lawmakers from tuned; you’ll know the de- contains enough tax ben- from seven to three or four,
company the president to states such as New York tails very soon.”Even after efits for home owners.Tom with respective tax rates
China and South Korea to and New Jersey who have the proposed legislation Donohue, president and of 12 percent, 25 percent,
help push the package. opposed a proposal to is put forward, Brady said, CEO of the U.S. Chamber 35 percent and one to be
Trump and congressional eliminate the federal de- “We will continue in listen- of Commerce, told Trump determined.Democrats,
Republicans are seeking duction for state and local ing mode.” that the business groups excluded from the closed-
the first major tax overhaul taxes, arguing it would hurt Brady has said that taxpay- would continue to “work door work on the plan,
in three decades, eager their constituents and sub- ers will be able to continue on it. We’re going to have continued to attack it. q

First Russia-Trump charges are special counsel warning shot

By CHAD DAY has shown that he will not with Russian intermediaries. hearing earlier this month, Russian contacts could
ERIC TUCKER hesitate to bring charges Perhaps more unsettling for one of Mueller’s prosecu- complicate the presi-
Associated Press against people who were the White House, the plea tors, Aaron Zelinsky, hinted dent’s assertions that his
WASHINGTON (AP) — close to the campaign by George Papadopoulos at the possibility of more campaign had never co-
Special counsel Robert even if the allegations came weeks ago, and his charges to come. ordinated with the Russian
Mueller is warning every- don’t specifically pertain initial arrest has been kept The Mueller probe is “a government to tip the 2016
one in President Donald to Russian election interfer- quiet for months, all while large-scale ongoing investi- presidential election in his
Trump’s orbit: ence and possible collusion he has been cooperat- gation of which this case is favor, the central issue be-
If they lie about contacts with the Trump camp. ing with federal agents. a small part,” Zelinsky said, hind Mueller’s mandate.
between his election cam- Court papers unsealed The charges had been according to a transcript. On Tuesday morning, Trump
paign and Russians, they Monday revealed an in- sealed specifically to keep The developments, includ- sought to distance himself
could end up on the wrong dictment against Trump’s the news of his guilty plea ing the unexpected unseal- from Papadopoulos.
end of federal criminal former campaign chair- from discouraging others ing of the guilty plea, usher “Few people knew the
charges. man, Paul Manafort, and a from cooperating with the Mueller’s investigation into young, low level volunteer
With the disclosure of the guilty plea by another ad- special counsel or from de- a new, more serious phase. named George, who has
first criminal cases in his in- viser, who admitted to lying stroying evidence. And the revelations in the already proven to be a liar,”
vestigation, Mueller also to the FBI about meetings At Papadopoulos’ plea plea about an adviser’s the president tweeted.q