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COMING UP:Share Opener Variant 2

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Transcript

00:00:01
>> President Trump traveling to Indianapolis on Wednesday to try and sell his plan for rewriting the federal tax code as he looks for a much needed legislative win after Republicans gave up on their latest effort to repeal Obamacare. The proposal is expected to include big tax cuts for corporations and individuals, that there are still questions over how to offset those cuts.
00:00:25
Just Reuters correspondents Amanda Becker.>> We're waiting on basically every detail of what the Republicans plan to float when the big 16 of negotiators releases it's plan on Wednesday. Now, the Big Six is calling this tax plan a framework, it could be as short as one page. So we're expecting to kind of see some baseline numbers just to work with, as the House and Senate start talking about this in more detail.
00:00:49
Right now, they've kinda been going back and forth over whether the wealthiest of taxpayers will get an individual tax cut. They're also going back and forth about whether those who at the lower end of the tax bracket might actually end up paying a little bit more>> Trump's proposal is seen as an appeal to wealthy donors who have demanded lower taxes, but Becker says Trump will have to make sure his base doesn't see the plan as middle class taxpayers handing a windfall to the rich.
00:01:15
>> He of course run on promises to help the middle class, to help the lower income Americans, and his tax plan is supposed to do that. The issue is that Republicans have promised for a long time that their tax reform efforts would really also cut taxes for businesses.
00:01:31
That's gonna cost cost money and looking for ways to offset some of those business tax cuts. Various proposals have been floated that would actually raise taxes for individual taxpayers.>> There's been no major tax code overhaul since 1986. Trump has asked his staff to confirm that the plan would represent quote, the biggest tax cut in American history.
00:01:51
Unlike repealing Obamacare, Republican leaders are expected to unite behind a tax plan. Otherwise, they'll have to work with Democrats, many of whom are likely to use Trump's tax proposal to pressure him to release his own tax returns.