US Republican tax reform plan to be released in two weeks

An outline of the Republican tax reform plan will be released during the week beginning September 25, House Speaker Paul Ryan said Wednesday, reflecting the consensus of the two US congressional tax committees and the Trump administration.

"On the week of September 25, there's going to be an outline that is released which reflects the consensus of the tax-writing committees -- Ways and Means and Finance -- and the administration," Xinhua quoted Ryan as saying.

"Then the tax writing committees are going to take feedback and input and then they're going to go produce their bills in the weeks ahead. And so this is the beginning of the process," he added.

The so-called "Big Six", including House Speaker Paul Ryan and Ways and Means Committee Chairman Kevin Brady, Senate Majority Leader Mitch McConnell and Finance Committee Chairman Orrin Hatch, U. Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn, are in charge of setting the outlines.

Ryan said he is confident that President Donald Trump will push for "conservative" tax reform, despite the president's recent moves of collaborating with democrats at the cost of his won party.

President Trump pushed Congress to pass a comprehensive measure to overhaul the tax code in late August, but didn't offer specific plans.

"I am fully committed to working with Congress to get this job done, and I don't want to be disappointed by Congress," he said.

--IANS

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