You’re Finished Trumpsters: McConnell Just Threw Your Tax Reform Fantasies into His Garbage

According to the OECD, the United Steaks has the highest tax rates of any developed nation on earth. After all, how else do you expect to pay for our $700b per year defense budget, welfare, and Obamacare?

One of the key tenets of President Trump’s campaign pledges was to introduce lower taxes, in order to remove the moat around big businesses that is effecting monopolies and scorning small businesses. To do that, he needs the help of the shills controlling the GOP in both the house and senate.

Senate Majority leader, Mitch McConnell, just told Trump and Sec. Mnuchin, to fuck off — throwing said tax reform ideas into his garbage pail. He isn’t interested in lower taxes.

Source: The Hill

“I think finishing on tax reform will take longer,” McConnell said during a Playbook Live interview.

Treasury Secretary Steven Mnuchin said late last month that the administration wants to wrap up a long-held GOP goal of overhauling the tax code before lawmakers leave for a month long break.

“So we are committed to pass tax reform,” he told CNBC. “We want to get this done by the August recess.”

The Senate is tentatively scheduled to leave town by July 31st and return during the first week of September.

Pressed about when he thought lawmakers would be able to complete tax reform, the Senate’s top Republican demurred.

“It is complicated. All of those discussions are already under way,” McConnell said. “How do you craft it?”

Markets aren’t happy with that news and have pressed the lows of the day, with most of the weakness found in Trump inspired infrastructure stocks.