Paul Ryan

The hearing on the proposed border-adjustment tax that has split corporate America for months is finally happening, but the measure may be further than ever from reality.

The president is leaning toward preserving a trillion-dollar tax break for corporate borrowers—a move that economists say could jeopardize his goal of robust economic growth.

House Republicans mustered just enough votes to pass their health-care bill Thursday, salvaging what at times appeared to be a doomed mission to repeal and partially replace Obamacare under intense pressure from President Donald Trump to produce legislative accomplishments.

The White House made its opening bid for what officials called the “biggest tax cut” in U.S. history—with cuts that would benefit businesses, the middle class and certain high-earning individuals—but left unanswered questions about whether the plan would be paid for, or how.

Treasury Secretary Steven Mnuchin confirmed the administration will propose a corporate tax rate reduction to 15 percent and said lawmakers broadly agree on the need for a tax overhaul, citing a “very successful meeting” on Tuesday evening in Washington.

President Donald Trump’s expected call to slash the corporate tax rate to 15 percent—a number that many economists say would boost the deficit so much that the cut would be short-lived—may be less about policy and more about deal-making.

The president’s plan to slash the rate to 15 percent is setting up a showdown with the House Speaker, who has called for a tax plan to pay for itself.

The president will call for cutting taxes for individuals and lowering the corporate rate to 15 percent after briefing GOP leaders.

Treasury Secretary predicts the Trump administration will produce an ambitious plan to overhaul the U.S. tax code “soon.”

The Trump administration is still committed to passing a tax code overhaul this year, though it may not be completed by August.