'Our Tax Code Is a Giant, Self-Inflicted Wound': Will the GOP Deliver on Tax Reform?
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Republicans in the House,
Senate, and White House
are forging ahead on
tax reform, promising
to simplify the tax code
in a way that provides
relief for all Americans.
Our tax code is a giant
self-inflicted economic wound.
We need tax reform that
is pro-growth, pro-jobs,
pro-worker, pro-family
and, yes, pro-American.
ABIGAIL ROBERTSON:
President Trump's daughter
Ivanka is also getting
actively involved
in the administration's
push to reform the tax code.
She spoke to a group
of pro-family advocates
this week, alongside
members of Congress,
to discuss ways to take care
of the needs of families
by expanding the
child tax credit.
It is very important
to the president
and this administration
that this is really
a tax cut for the middle class
and for working families.
One of the ways we
can deliver a tax cut
is through a more
generous child tax credit.
This administration is pushing
for the largest child tax
credit possible.
ABIGAIL ROBERTSON: Ralph
Reed, president of the Faith
and Freedom Coalition, is a
strong supporter of increasing
the child tax credit.
He says he helped President
George W. Bush double it
to $1,000 16 years ago.
But it has not been
increased since.
RALPH REED: We think it's time.
We think it's a heck of a lot
more effective for America's
children to let those
mothers and fathers keep
the money than it is to
send it to Washington
and let bureaucrats
and politicians decide
how to spend the money.
ABIGAIL ROBERTSON: Grover
Norquist, a long-time advocate
of tax reform, says it's time to
get rid of many of the problems
in the current tax code.
Economic growth, creating more
jobs, is terribly important.
But then also, going
through the code
and taking out both
inefficiencies, things
that are special breaks for
some industry or some group,
getting rid of those,
and making sure
that families are a central
part of what we worry about.
ABIGAIL ROBERTSON:
Norquist says he's pleased
that Republicans
in the White House
and both houses of Congress seem
to be unified on the tax plan.
The good news is,
Paul Ryan told me
that they're 97% agreement,
the House, the Senate,
and the White House.
So now it's just
a question of we
know the ingredients
that are going in,
just how much of each.
Republicans seem
confident they
will deliver on their goal
of meaningful tax reform
by the end of this year.
Reporting from Washington,
Abigail Robertson, CBN News.