Trump Wanted a Bigger Tax Cut for the Rich but Lost to Ivanka
WASHINGTON — President Trump urged senators this month to repeal the Affordable Care Act’s requirement that most Americans have health insurance and use the proceeds to slash the top tax rate paid by the richest Americans, a suggestion that pitted him against his daughter and Republican senators intent on helping the middle class.
In the end, the president accepted only a partial victory. He got the repeal of the health law’s individual mandate, but gave up on an income tax rate cut that would have directly benefited him personally. Instead, Ivanka Trump and her allies in the Senate prevailed in their push to include an expanded child tax credit.
“This was certainly an uphill battle, especially given that it is not an issue that is as widely understood,” said Senator Mike Lee, Republican of Utah and a leading advocate of the expanded child tax credit. “We didn’t necessarily have the sense that the president was opposed to it. I still don’t have that sense. I think if he had been, things would have worked out differently than they did.”
The fight will continue later this week when Mr. Lee and Senator Marco Rubio, a Florida Republican, take on another top Trump priority, cutting the corporate tax rate to 20 percent from 35 percent. The senators plan to offer an amendment that would cut the corporate tax rate to 22 percent, instead of 20 percent, and use the proceeds to help families with little or no income tax liabilities benefit from the expanded child credit and to allow the child credit to rise with inflation.
https://www.msn.com/en-us/news/politics/trump-wanted-a-bigger-tax-cut-for-the-rich-but-lost-to-ivanka/ar-BBFVUzV?li=BBnb7Kz&ocid=edgsp
Oh how mightily generous of Ivanka. People lose there healthcare and she doesn't have to pay inheritance taxes.