Vice President Mike Pence on Wednesday pledged that he and President Donald Trump would deliver sweeping tax relief cuts “before we get to this summertime,” raising expectations that Republicans will deliver in relatively short order on a key campaign promise.
“The truth is our country’s tax system these days penalizes success,” Pence said in a speech in Fenton, Missouri. “It makes it far too hard for hard-working people and small businesses to achieve the American Dream.”
“Rest assured, when President Trump and I get done, before we get to this summertime, we’re going to cut taxes across the board for working families, small businesses and family farms, and get this economy moving again,” Pence said.
Both the White House and Republican congressional leaders have promised tax relief, but they have yet to coalesce around a plan. Trump said Wednesday that he will put forward a tax-cut package shortly after he unveils a plan to repeal and replace the Affordable Care Act next month.
Republican congressional leaders have said their goal is to complete work on both health care and tax reform by their August recess, but some have acknowledged that timeline could slip.
House and Senate Republicans are currently at odds as to how to pay for a tax reform package. House leaders are pushing a “border adjustment tax” as a means to raise revenue to offset promised tax relief, but Senate leaders have been cool to that idea, which has also split the business community.
During the campaign, Trump promised to cut corporate taxes from 35 percent to 15 percent and cut income taxes while reducing the number of income tax brackets.
Pence’s comments came during a visit to a family-owned distribution center of Cat-brand construction equipment.
He said that the country’s current tax code makes no sense.
“There’s an old joke that says the tax code’s about 10 times the size of the Bible but with none of the good news,” Pence said.