Income Tax, United States, The House discussed on Anderson Cooper 360

Automatic TRANSCRIPT

Well look they are enthusiastic that they finally have a plan their enthusiastic this is an opportunity to actually do something that haven't done it all this year and that is accomplish your major slip legislative goal but i mention the removal of popular deductions issues like the mortgage interest rate deduction issues like state and local tax deduction they were are capping the property tax deduction at ten thousand dollars a removing the income tax and tax deduction altogether those are harry issues those are issues that republicans particularly northeastern republicans from hightech states have already stated unequivocally they will be against the bill if they don't see changes the big question right now anderson is what went out the political imperative here to move forward to do something anything legislatively or the fact that these details these in the weeds provision could make or break people's political and potentially policy futures and the republicans behind the planet they obviously want to move very quickly on this yet look they're not hyper speed was one person described it to me and look there staring at reality here there's a reason this hasn't been done in thirty one years there's a reason major overhauls of the us tax code are so complicated and that's because you have interest groups you have people that care about these deductions these things you have to get rid of in order to pay for these very large ratecuts so because of that fact anderson they will be moving this bill through committee next week it'll be on the house for the week after that the senate will start their processes well they want this done in the house and senate by thanksgiving they wanted on the president's desk by christmas can they actually pull that off that is a very very aggressive scheduled but at least according to the speaker answer's yes artful mental i fell thanks up next as all the russia investigation news breaks this week sources tell cnn the president is agonizing or the developments isolating the white house but prison insist the new york times that he's not angry we'll speak to the man who authored the art of the deal tony schwartz about how the president deals with this kind of pressure.

Coming up next