Taxes

Wounded White House is Uncharacteristically Quiet
Turf war could be brewing on tax overhaul

President Donald Trump, center, pushed hard but came up short on health care. He's now moved on, say senior aides, but the same pitfalls remain for future endeavors. (Bill Clark/CQ Roll Call)

The White House on Monday continued licking the wounds of its first legislative defeat, even as President Donald Trump and his lieutenants gear up for a Supreme Court battle, a government funding fight and a tax overhaul push that will likely be bruising.

Apart from now-familiar contentious moments during the daily press briefing, Monday was eerily quiet at the executive mansion — a departure from the previous two frenetic weeks.

Schumer and Pelosi Prebuttal to Trump: We Disagree
Democratic leaders see no signs they can work with Republicans

House Minority Leader Nancy Pelosi and Senate Minority Leader Charles E. Schumer speak at the National Press Club in Washington on Monday. NPC President Jeff Ballou appears at left. (Tom Williams/CQ Roll Call)

Congress’ top two Democrats on Monday delivered their “prebuttal” to President Donald Trump’s upcoming first address to Congress, outlining reason after reason why Democrats cannot support anything they expect the president to propose. 

Speaking at the National Press Club, Senate Minority Leader Charles E. Schumer and House Minority Leader Nancy Pelosi said Republicans’ early actions and rhetoric on health care, immigration, budget and taxes are out of step with the Democrats’ priorities and suggested there’s no room for the parties to work together.

Is Trump Taking Policy Cues From Paul Ryan?
Nod to tax proposal just latest in series of shifts

President Donald Trump, left, shakes hands with Ryan, right, as he arrives on stage while Vice President Mike Pence looks on, at the GOP retreat in Philadelphia. (Bill Clark/CQ Roll Call/Pool)

PHILADELPHIA — In a few short months, Donald Trump has shifted from a candidate who considered Speaker Paul D. Ryan a “very weak and ineffective leader” to a president who seems to be leaning on him to beef up his policy agenda.

A sign of that evolution came Thursday when Trump, speaking before congressional Republicans at their issues retreat here, embraced Ryan’s “border adjustment” proposal to tax U.S. imports instead of exports as a way to pay for his border wall.

Ryan Lays Out Ambitious 200-Day Congressional Agenda
Health care and tax overhauls slated to be done by August per GOP plan

Rep. Chris Collins, R-N.Y., does a television interview at the GOP retreat in Philadelphia on Wednesday, Jan. 25, 2017. House and Senate Republicans are holding their retreat through Friday in Philadelphia, with a visit from President Donald Trump expected Thursday. (Bill Clark/CQ Roll Call)

PHILADELPHIA — House Speaker Paul D. Ryan is laying out an aggressive 200-day agenda that will have Congress rolling back regulations, repealing and replacing the 2010 health care law, funding a border wall, rewriting the tax code, expanding the veterans’ choice program, advancing an infrastructure package and avoiding a debt default — all before the August recess. 

“It’s the president and his administration working hand and glove with the speaker and the majority leader,” New York Rep. Chris Collins told reporters after Ryan’s presentation at the start of the GOP retreat here on Wednesday. “It’s going to be hard. We’re going to be doing controversial things. The speaker’s message was, ‘None of this is going to be easy, and we’re going to be attacked by somebody regardless of what we do, so let’s buckle our seat belts and understand we have an obligation here.’”

Obamacare Tax on Wealthy Sparks Battle Over Fairness
Charges GOP favors a tax cut for the wealthy

Top Senate tax-writer Orrin Hatch, R-Utah, said lawmakers have not agreed on an effective date for repeal of the health law surtax. (Al Drago/CQ Roll Call file photo)

 Republicans and Democrats are squaring off in a fight over tax fairness as the GOP develops a timetable for repealing the 3.8 percent surtax on investment income under the health care overhaul.

GOP lawmakers have long argued for elimination of the surtax, or the net investment income tax, that applies to income such as interest, dividends and capital gains for individuals making more than $125,000 or couples earning more than $250,000.

Ryan Bucks Trump, Says Congress Will Not Raise Tariffs
Speaker’s comment breaks from president-elect’s promise to impose ‘border tax’

Speaker Paul Ryan said Congress will not raise tariffs, undermining President-elect Donald Trump’s plan to institute a “border tax” for companies that leave the U.S. but want to continue doing business here. (Tom Williams/CQ Roll Call file photo)

Speaker Paul D. Ryan, in a break from President-elect Donald Trump, said Wednesday that Congress is not going to increase taxes on imports and exports through tariffs. 

“We’re not going to be raising tariffs,” Ryan said on “The Hugh Hewitt Show.”

A New Democratic Gatekeeper on the Trump Agenda
Neal at Ways and Means, one of House minority’s 3 new bigwigs, positioned as key legislative field director

Massachusetts Rep. Richard E. Neal is positioned to become a key legislative field director as the ranking Democrat on the Ways and Means Committee, Hawkings writes. (Tom Williams/CQ Roll Call file photo)

The most important changes in the House Democratic power structure so far look more like a tectonic shift than a dramatic upheaval.

Counterintuitively, a caucus where white men have been reduced to a two-fifths plurality will be represented by three baby boomer white men as the fresh public faces confronting the new Trump administration on the biggest domestic policy debates of next year, from highways to health care.

Ryan Says He and Trump Have Not Discussed Cutting Medicare
Speaker talks about how he and Trump decided to ’let bygones be bygones’

Speaker Paul Ryan, R-Wisconsin, says overhauling Medicare is not Congress’ top priority after President-elect Donald J. Trump takes office and that they haven’t even discussed it. (Tom Williams/CQ Roll Call file photo)

Since the election, Democrats have rung constant alarms about Republican designs on cutting Medicare. But Speaker Paul D. Ryan said Sunday that’s an option he hasn’t even discussed with President-elect Donald J. Trump.

In an interview with CBS’s “60 Minutes,” Ryan said he wants to overhaul Medicare so that benefits will remain for future generations. But overhauling the big entitlement program is not at the top of the legislative agenda, Ryan said.

Chart: Presidential Candidates' Tax Returns
Republican candidate Donald Trump breaks from a 40-year tradition

Republican candidate Donald Trump at Wednesday's debate in Las Vegas. (Photo By Bill Clark/CQ Roll Call)

President Richard Nixon released four years of tax returns in 1973 to quell accusations that he was evading taxes. Since then, every candidate for president, except Donald Trump, has released some tax information, ranging from Gerald Ford's summary document to 30 years of Bob Dole's returns.

See how many years of tax information candidates have released before each presidential election:

Nuclear Industry's Next Big Ask for Next Congress: Tax Credits
Credits seen as potential ‘bridging strategy‘

Beset by low natural gas prices and tax advantages for its competitors, the nuclear power industry is seeking new tax credits to help it find its footing in an increasingly challenging marketplace.

The Nuclear Energy Institute’s newly tapped president and CEO Maria Korsnick said last week that the trade association is exploring a proposal for new production or investment tax credits to help “even the playing field” against other power sources.