Trump's everything menu on taxes

The White House is signaling to GOP lawmakers that President Trump's massive tax package isn't an a la carte menu: It's a prix fixe meal.Why it matters: While officials want the big, beautiful bill to include all of Trump's tax priorities, they plan to make extending his 2017 tax package the centerpiece of their messaging campaign, according to an administration official.The plan is to use the threat of tax increases for on all Americans to convince Congress to pass all of their tax proposals.Zoom in: The only concession the White House is making on cost is to offer shorter time horizons for some of Trump's business-friendly tax cuts.For example, Trump's plan to offer 100% expensing to build new factories will only be available for FY2025 – FY 2028. (Note: that includes this year.)Driving the news: The White House reminded key lawmakers of the president's tax priorities last week, Punchbowl News reported today.That includes making Trump's 2017 Tax Cut and Jobs Act permanent, as well as tacking on the three proposals that Trump discussed the most during the campaign: No taxes on tips, Social Security payments and overtime.He also wants to include a trio of business-friendly tax cuts that surprised many Republicans when Treasury Secretary Scott Bessent called for them last week.That includes deductibility for auto loans for American-made cars and motorcycles, full expensing for new factories and a 15% corporate rate for corporations and pass-throughs that manufacture goods domestically.The intrigue: The Congressional Budget Office hasn't scored all of the president's new proposals. House and Senate lawmakers are bracing for sticker shock.The White House is also offering some pay-fors.Their biggest target is to eliminate some of the tax incentives in President Biden's Inflation Reduction Act.They also want to go after the tax-exempt status of university endowments, tax breaks for professional sports teams owners and treat carried interest as regular income.The bottom line: The White House still plans to use the late-summer debt ceiling X-date as a powerful forcing mechanism to get Trump's tax bill through Congress. As Speaker Mike Johnson told us last week, that's the real deadline.Just as House committees delve into the details of Trump's "big beautiful bill," the political strategy from the White House is coming into focus.

Comments

World news

Barstool Sports founder retracts Auschwitz tour offer to customer in antisemitic sign incident

Independent

US shoppers told to brace for ‘shared sacrifice’ amid the wait for Trump trade deals while Europeans shun ‘Made in America’

about 6 hours ago

Independent

Strange-looking orange lizards are popping up across Florida. Here’s how they could upend its ecosystems

about 6 hours ago

Independent

Rite Aid filing second bankruptcy as it seeks job cuts

about 6 hours ago

Comments

Similar News

‘Love you guys,’ Trump tells pardoned convict Enrique Tarrio at Mar-a-Lago: report

Trump plans to jumpstart one of the nation’s worst prisons. Officials may have to boot threatened seabirds to do it

U.S. President Donald Trump’s film tariffs could leave Calgary productions hanging

Hollywood's reaction to Trump's movie tariffs idea: Confusion, dread and a little hope

Donald Trump bans 'dangerous' virus research funding to China after Covid-19 leak

Trump has threatened a 100% tariff on movies made outside the US. Here's what we know

US shoppers told to brace for ‘shared sacrifice’ amid the wait for Trump trade deals while Europeans shun ‘Made in America’

Is Trump's plan to reopen notorious Alcatraz prison realistic?

18 States Sue Over Trump’s Halting of Wind Power Projects

Trump’s sons promote real estate and crypto deals across world that will benefit the president

Immigrants paid $1k to self-deport could be allowed back ‘if they’re good people,’ Trump says

Trump threatens tariffs on movies, but experts say it may not be so simple

Trump’s new plan for student loans, briefly explained

How Britain became Hollywood's biggest threat as Trump threatens movie tariffs

Loyalty matters most in race to become Trump’s next national security adviser

Trump says Mexico's president rejected help from U.S. military because she's 'scared' of cartels

Europe launches a drive to attract scientists and researchers after Trump freezes U.S. funding

Alcatraz, Sith lords and movie tariffs: Trump’s ravings get louder as his approval rating goes lower

Trump announced Alcatraz reopening just hours after ‘Escape from Alcatraz’ aired on a South Florida PBS station

Trump passes the buck on image of him as the Pope and falsely claims all Catholics loved it

World news

Barstool Sports founder retracts Auschwitz tour offer to customer in antisemitic sign incident

Trump continues Biden’s court defense of mail-order abortion pills

Ukraine-Russia war live: Moscow hit by massive drone raid for second night ahead of Putin’s Victory Day parade

'I was shocked by that': Complainant in Hockey Canada trial resumes testimony

Two young children still missing in Nova Scotia, teenager who fell into lake found deceased

Spare parts for Canada's F-35 fleet will be controlled by the U.S.

Leafs goalie Stolarz leaves game in second period

Leafs top Panthers in Game 1, lose Stolarz

Speculation and excitement grow in Rome as papal conclave prepares to choose next pope

Car giant Ford and Barbie maker Mattel warn over tariffs costs

Rihanna reveals she is pregnant with third child at Met Gala

Doctors rushed us to urgent care, only survivor of mushroom lunch tells court

China at a 'rapid boil' for military action, admiral warns

The incredible 'great escape' of Alcatraz remembered as Donald Trump launches new plan

Companies are leaving more jobs unfilled as economic worries hit pause on corporate spending

Diddy was once a ‘Bad Boy for Life’ and ran an empire. At the start of his trial, he was just a meek defendant

Alcatraz, Sith lords and movie tariffs: Trump’s ravings get louder as his approval rating goes lower

Kamala Harris and Doug Emhoff attend Met Gala but skip red carpet

Alberta's premier proposes referendum on separation from Canada

New Manitoba Tory leader says sorry for campaign ads on landfill search

Lake Okanagan Resort condo owners left in limbo after West Kelowna, B.C fire

Accused Vancouver seawall attacker remains in hospital, lawyer says

Families of Tatyanna Harrison, Chelsea Poorman, Noelle O’Soup call for inquest into deaths

B.C. driver hit by unmarked police SUV worried about ICBC compensation

City of Winnipeg issues fire ban in midst of dry conditions

‘Spring dip’ causing uptick in B.C. wildfires

Cleaning up torched Queen of Sidney could take years, millions of dollars, experts say

India worried about Chinese 'dumping' as trade tensions with Trump escalate

13 Workers Found Killed at Gold Mine in Peru

Trump admin to halt new grant funding to Harvard

The governor-to-Senate pipeline is suddenly flowing in the other direction

A$AP Rocky confirms baby No. 3 with Rihanna at the 2025 Met Gala

‘Love you guys,’ Trump tells pardoned convict Enrique Tarrio at Mar-a-Lago: report

Trump plans to jumpstart one of the nation’s worst prisons. Officials may have to boot threatened seabirds to do it

Man detained after crashing through Jennifer Aniston’s front gate while she was home: police

Togo's opposition denounces new role of the country's leader as a 'constitutional coup'

El Salvador president orders arrest of of bus company heads for defying free transport order

Saskatchewan reports $31K in public money losses at Crown corporations

Calgary crews scramble to contain brush fire in city’s southwest

RCMP investigating suspicious death in northeast Saskatchewan

Alberta’s energy industry, government watch nervously as oil prices hit 4-year low

Kelowna mom shares difficult journey of daughter living with rare disease

Blood Tribe residents remember loved ones on Red Dress Day

U.S. President Donald Trump’s film tariffs could leave Calgary productions hanging

U.S. tariffs drive up prices for baby goods as more families turn to B.C. charity for help

BA suspended flights to and from Israel after terrified crew caught up in ballistic missile strike on Tel Aviv’s airport

Donald Trump bans 'dangerous' virus research funding to China after Covid-19 leak

Conclave: Inside the world's most secret ballot

Merz government to be sworn in as Germany ends months of stalemate

Americans used to be steadfast in their support for Israel. Those days are gone

Trump's everything menu on taxes

Burgum: 'Build, baby, build' data centers to win AI race versus China

Trump has threatened a 100% tariff on movies made outside the US. Here's what we know

Boston councilwoman pleads guilty to federal corruption charges in a kickback scheme

Ann Telnaes, who quit Washington Post in protest, wins Pulitzer for 'fearlessness' in commentary

Sean Duffy scorched online after posting about tacos as another crisis hits a major US airport

A lost DoorDash driver started knocking at houses for directions. A local official then shot him in the back, cops say