Following a whirlwind tax tour by chief Republican lawmakers, President Donald Trump will take the baton as he visits Springfield, Missouri on Wednesday to begin his leg of the race to complete one of his key campaign promises before year's end.
"We want to be the great jobs magnet of the world again", an official said Tuesday, quoting Trump. "They simply want massive tax cuts for millionaires, billionaires, and big corporations, at the expense of everyone else".
The list of countries he singled out for having low corporate tax rates were France, Germany, Canada, Ireland, Japan, Mexico and South Korea. The tax code in the United States has not been modified significantly since 1986. According to the Springfield News-Leader, company executives contributed to Trump's presidential campaign a year ago.
His daughter, Ivanka Trump, an advocate for expanding the child tax credit, will also be there. And the Democrats have shown no willingness to support a tax overhaul they deem to benefit the wealthy disproportionately.
The health-care stalemate has another lesson for Republicans contemplating tax reform. "I hope so. Tell you what - the USA is counting on it".
"Don't expect to see any specific rates like that", the officials said, in reference to the numbers on the one-page outline.
Trump's plan was light on details, but centered around four ideas: simplifying the tax code, cutting corporate taxes, giving tax relief to middle-class families and repatriating trillions of dollars now parked overseas. Wednesday's speech is to focus on tax reform, according to the White House, and will viewed primarily by credentialed media.
Trump made the pitch during a speech promoting his administration's tax agenda, which is still lacking in any significant detail. An overlapping group has faith that reducing tax rates will have so positive an effect on economic growth that revenues will come in much higher than the CBO predicts. "And those tax giveaways will be paid for by cuts to Social Security, healthcare, education, and other programs that maintain living standards for working families". "Now, the middle class really needs a tax cut".
In terms of policy, though, there are signs that the Trump White House is continuing to defer to Republicans in Congress.
(President Trump) "I'm calling on Congress to provide a level playing field for our workers and our companies".