CAGR EXPLORER Trump and Hillary Clinton agree the United States needs tax reform and have agreed to work together to find the best path forward, but they disagree on some key details, POLITICO has learned.
Clinton is focused on the president’s signature healthcare law, while Trump wants to overhaul the tax code and tax relief for small businesses, according to a senior White House official.
The two also agree on an increase in the minimum wage and other issues that Trump has sought to distance himself from.
But the Trump administration has not been clear about how long they can negotiate a deal, the official said.
The White House is currently engaged in discussions with Congress and will decide soon whether to move forward with legislation, the source said.
Clinton, who has been working on tax overhauls and other initiatives since leaving the State Department last year, has been pushing for more tax relief in the weeks since she announced her candidacy.
The president is reportedly trying to build support for his tax plan by offering a $250,000 tax credit for every dollar he raises over $250 million.
But some Republicans say the tax break is an expensive giveaway that benefits the rich at the expense of working-class Americans.
The two sides also differ on other policy areas, including healthcare and the minimum-wage increase, POLITICO reported last month.
The Trump administration is looking into tax changes that would extend the tax breaks, though that is not part of the negotiations, the White House source said, without elaborating.
On taxes, Trump is likely to get support from Democrats who believe that he will pay more than other Republican presidents.
But it’s unclear whether he will get support for a package that includes more tax breaks for the wealthy, a proposal Democrats have been pushing.
Trump and Clinton also are reportedly discussing the creation of a joint commission to study the future of the nation’s debt.
That effort is still in the early stages, the senior White President’s official said, but the White National Committee and Clinton’s campaign are “aggressively pursuing” that initiative.