Gary Cohn

President Donald Trump is confident that House Republican leaders have the votes to pass their version of a tax overhaul, and he’ll thank members of the GOP conference and field their questions on a visit to the Capitol this morning, a senior administration official said.

House Republicans should slow down their consideration of a tax-overhaul bill after investigative reports Sunday alleged offshore tax-avoidance by U.S. multinational companies including Apple Inc. and Nike Inc., congressional Democrats and tax-advocacy groups said.

The House tax bill released Thursday preserves the carried interest tax break—paid to private-equity managers, venture capitalists, hedge fund managers and certain real estate investors—despite President Donald Trump and GOP leaders’ promise to do away with loopholes for the wealthy.

Treasury Secretary Steven Mnuchin got a swift rebuttal after he went on national television to claim a hypothetical Indiana family would save $1,000 under President Donald Trump’s tax plan.

House Speaker Paul Ryan said Friday that Republicans will include a fourth income tax bracket in their tax-overhaul plan so that top earners "do not see a big rate cut."

Tax cuts and deregulation can help the U.S. economy grow faster than the recent pace of about 2 percent, National Economic Council Director Gary Cohn said.

The White House is showing “softness” on ending a $1.3 trillion federal tax deduction filers get for their state and local taxes, Senator Bob Corker said Monday, warning that it raises questions about the GOP’s “intestinal fortitude” and could imperil a tax overhaul.

Trump isn’t tied to eliminating the break, which is popular in states with high rates, like New York, New Jersey and California.

The Trump administration’s tax overhaul plan bears little resemblance to the reform efforts of the 1980s and wouldn’t do much to boost U.S. economic growth, former Treasury Secretary Lawrence Summers said.

President Donald Trump brought his pitch to overhaul the tax code to North Dakota on Wednesday with an unlikely guest in tow: the state’s Democratic senator, Heidi Heitkamp.